Recommended Initiative 3:

Tax Incentives to Empower All Consumers

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Tax Incentives to Empower All Consumers Change federal and state tax laws so all purchasers of health care- employers, employees and individuals - may pay for or fund qualified health care expenses under favorable tax treatment. Healthy Florida Foundation proposes to:

• Simplify tax laws so employee contributions to health insurance premiums or health savings accounts are on a tax-preferred basis without the need for their employer to implement a Section 125 Plan.
• Allow tax credits or deductions of health insurance premiums for anyone who purchases their own insurance outside the employer-based system.
• Provide a refundable tax credit for the poor and the working poor to cover premiums for a basic health insurance policy.
• Create a Florida-based promotion to make available Section 125 self-administration kits to increase the use of existing favorable tax treatment programs for small business.

Benefit of Recommended Initiative 3

Making all - individuals and all employers - equally eligible for favorable tax treatment around the purchase of health care premiums will increase the number of people who are covered. Making all individuals equally eligible for favorable tax treatment around the use of medical savings account will create incentives for the use of those accounts and lead to more engaged consumers of health care and more rational use of the health care system.

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