He's saying that the leading option to pay for this health care plan is through a payroll tax - although one parameter is that the plan will not increase spending for employers and workers, but also will not reduce the net payments to hospitals, doctors, and other providers. He's also saying that there will be no change in Medicare benefits.
He's also proposing savings through tort reform - "That's why I have many friends who refuse to return my calls - and these friends are trial lawyers." - which is, in laymen's terms, reforming the liability process for the health care system. This was a flash point in the national debate over health care in 2009.
One part of this report is how comprehensive the insurance coverage should be - should it cover long term care benefits for the elderly? How about additional dental and vision coverage? He's saying that the full boat - comprehensive coverage including all of them - will be too expensive.
Hsiao is projecting health care savings between $330 million and $590 million by 2015, and between $1.3 billion and $2.1 billion by 2024, but said he plans on using some of that savings to expand some kinds of coverage - like medical and dental - and upgrade everyone to a standard essential package.
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