Bob Schaffer on Health Care Senate challenger 2008; previously Republican Representative (CO-4)

Encourage tax-free medical savings accounts

Schaffer supports the following principles regarding healthcare:
• Provide tax incentives for small businesses to help provide health care to their employees.
• Allow middle and low income families to deduct yearly health care costs from their taxable income.
• Establish limits on the amount of damages awarded in medical malpractice lawsuits.
• Encourage tax-free medical savings accounts, which would be taxed if used for any purpose other than medical costs.

Voted YES on allowing suing HMOs, but under federal rules & limited award.

Voted NO on subsidizing private insurance for Medicare Rx drug coverage.

Voted YES on banning physician-assisted suicide.

Voted YES on establishing tax-exempt Medical Savings Accounts.

Expand medical savings accounts for employers & individuals.

To expand the availability of medical savings accounts. Amends the Internal Revenue Code with respect to medical savings accounts to:
1. repeal the limitation on the number of accounts;
2. make all employers (currently limited to small employers) eligible to offer accounts;
3. increase contribution deduction amounts;
4. permit employer and employee contributions;
5. reduce high deductible health plan deductibles; and
6. permit accounts to be offered under cafeteria plans.