It's almost pointless to analyze health care proposals as written. Unintended consequences and the political reaction to them will force major changes within the first few years of operation. For example, the huge implicit tax rate caused by phase-out of the subsidy is not a sustainable policy. The only version of universal health care known to be politically stable is government-provided coverage paid for by general taxation. Since that's where this is going, it's misleading to analyze a mere way point on the road to Medicare for all.