03.07.06

Burr Introduces Bill to Encourage Greater Health Care Insurance Coverage

Tax deduction would help reduce number of uninsured

WASHINGTON, D.C. - Senator Richard Burr today introduced health insurance legislation to provide an above-the-line tax deduction for individuals who purchase their own health insurance or long-term-care insurance.

"Everyone should have access to affordable health care," Burr said. "By providing a tax deduction to those who purchase their own health or long-term care insurance, we can help lower the number of people who do not have coverage by making insurance costs more affordable."

The tax deduction makes health insurance more affordable for Americans who purchase their own coverage and makes federal tax provisions fair by equalizing the tax code between those who are self-employed and those who are not. Current law provides an above-the-line tax deduction for self-employed individuals who purchase health insurance; however, non-self employed individuals who purchase their individual health insurance are not eligible for this deduction. This legislation provides an above-the-line deduction for any type of health insurance purchased by an individual. It is not just for high-deductible health insurance plans. In 2005, an estimated 17.4 million Americans were covered by individually purchased health insurance policies.

"As health care costs continue to rise, it is important we look for solutions which can make health insurance more affordable for people and their families," Burr added.


For more information go to https://www.burr.senate.gov



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