Cliff Stearns: “I introduced a conservative health care plan in November 1993. This was a plan that was developed by the Heritage…”

“I introduced a conservative health care plan in November 1993. This was a plan that was developed by the Heritage Foundation, a conservative think tank here in Washington. They developed this plan over a 7-year period. What it does is to offer taxpayers and all Americans universal coverage. It is the only Republican plan here Congress on the House side that offers universal coverage. Senator Nickles has offered this plan on the Senate side. But what I have done, Mr. Speaker, is to improve this bill, and I dropped this bill 2 days ago. It is now H.R. 4550, and what is important about my bill now is that it is completely voluntary. Make no mistake about it. This is something that every Republican and every Democrat could support. Also still provides universal coverage. Another feature is that it makes a broader range of insurance plans eligible for tax credits, and that is how we do it, all through the tax credit system. In order to provide the most affordable insurance options, the deductible limits of $1,000 for any individual and $2,000 for a family has been deleted. The bill would limit out-of-pocket expenses for both insurance premiums and medical expenses to $5,000 or 10 percent of the adjusted gross income. In order to preserve the bill's budget neutrality I have decided to push back the effective date to January 1, 1998. In addition, Mr. Speaker, I have added a provision to ensure that the tax credits do not grow faster than private health expenditures.”