For individuals covered under a contract that provides for healthcare and retirement, nothing would change while the contract is in force.  A plan ID number would have to be included in the person’s Income Tax Form.  That’s all.  Those under Government mandated plans say for  Congressmen, the President or the military would stay the same.  Just indicate it on the tax form. Everyone else would have a Personal Benefits Account (PBA).   Those that are employed would give their employer your PBA account information.  The employer would on payday make the proper deductions, 10%  minimum up to a Max equal to the current 401K cap plus $10,000 health allowance and deposit it in the employee’s PBA.  The self-employed would make those payments themselves on at least a quarterly basis.  If your adjusted net  income on your tax return indicates that you are entitled to Medicaid or a subsidy, the proper amount would be credited in total to your PBA .   The first thing the account would do is direct pay the Premium for a Catastrophic Health Policy you selected. Continue reading