Wednesday, November 4, 2009

Health Care Reform From the House

Last Thursday the House of Representatives rolled out their Health Care Reform bill, with sweeping changes proposed for our health care system.

Obama praised it for including a public health care option, and being fully paid for.

This would be accomplished through 4 primary measures:

1. Offering subsidies to help the uninsured purchase insurance through newly created exchanges.
2. Requiring individuals to buy insurance and all but the smallest employers to offer health coverage to workers.
3. Taxing individuals making more than $500,000 and couples earning more than $1 million; this would bring in an estimated $460 billion over 10 years.
4. Expanding eligibility for the government's Medicaid health insurance program for the poor to people with incomes up to 150 percent of the official poverty level, which is cheaper than providing subsidies.

According to the Insurance Journal, debate could start as soon as this week, and the sides are splitting right down party lines.

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