Basically he gives you a tax credit of up to $5000 and then you have to use that to buy health care insurance and if you have any left over it goes into an account for out of pocket medical expenses. So instead of sending it to the government, you use it for your own health care. Somehow Obama has said this is a tax.Under McCain's plan the employer-funded portion of your health insurance is taxed. You still get the credit, but if the employer plan is expensive enough, your taxes will indeed go up.
Personally I am not happy about this. I changed jobs recently and the employer I picked was on that has really good health insurance. I considered this when I took the job, and I took a lower salary than several other offers I had because it was balanced out by the better health insurance. So for me, McCain's plan may result in a tax increase.
Under Obama, of course, we get socialized medicine, which also negates the benefits from my current employer. It's really disheartening.
The employer-required health issue depresses wages. I wish McCain would come out and say he wants to change the law that says only employers can collective and negotiate rates. He needs to say that any group that wants to do so can - churches, alumni, whatever.