John McCain’s $5000 tax credit to buy health insurance is money that goes directly to the insurance company. It’s not money to be used at your discretion. From his website (emphasis mine):
John McCain Will Reform The Tax Code To Offer More Choices Beyond Employer-Based Health Insurance Coverage. While still having the option of employer-based coverage, every family will receive a direct refundable tax credit – effectively cash – of $2,500 for individuals and $5,000 for families to offset the cost of insurance. Families will be able to choose the insurance provider that suits them best and the money would be sent directly to the insurance provider. Those obtaining innovative insurance that costs less than the credit can deposit the remainder in expanded Health Savings Accounts.
Also, as family premiums now cost $12,680, where does he propose you get the extra $7680?
Oh, and his open up the national market thing? All that does is strip away state regulations in place to protect you.
Read the fine print like your life depends on it. It could.