While still having the option of employer-based coverage, Americans could receive a refundable tax credit of $2,500 per individual or $5,000 per family to offset the cost of insurance, with the credit being sent directly to the insurance provider. To pay for those credits, he would eliminate the tax exemption that workers receive through their employer-sponsored health insurance, raising an estimated $3.6 trillion.

<link>

He raises taxes on employer provided coverage to pay for a credit that he mails directly to "his friends" in the insurance biz, who of course will out of the goodness of their dear hearts pass along the savings to consumers. . . or not.

This is the stupidest idea I've ever seen proposed and how he thinks this is going to fly I don't know. My guess is that they just cribbed off of some winger think tank. McCain has said, after all, that he doesn't understand economics and at his age it's tough to learn new things.