Notes on the healthcare reform bill… Cuz i don't know ANYTHING

I don’t have much of an actual idea of what the health care bill really means. Below I simply record some notes and sources I’ve looked at. After my preliminary research it looks like this bill is good:

• Insurance companies get a bunch of new customers, and thus are ok-er with being forced to lower costs.
• Individuals who make $200k and married couples who make $250k and up will have a new 3.8% tax.
• Companies with 50 or more employees have some more regulations (if they aren’t already offering health care).
• Insurance exchanges will make bring competition into the health care market, where currently individuals are gang-raped for sport. (i mean, have you ever felt as powerless as being an individual trying to negotiate with a health care provider for a better rate?)
• Drug co’s, and medical industry co’s pay for much of their new clients
• Old people get cheaper drugs. A total plus if your grandparents and parents like to spoil your children.
• and finally: ”Because somewhere deep in your heart you said to yourself, ‘I believe in an America in which we don’t just look out for ourselves, that we don’t just tell people you’re on your own.’ “

But this is just preliminary research….

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“I think Newt Gingrich summed up the Republican point of view and their hopes perfectly. He said that if Democrats pass health reform, “They will have destroyed their party much as Lyndon Johnson shattered the Democratic Party for 40 years” by passing civil rights legislation.

If we have destroyed the party by doing something one-tenth as necessary and morally right as the civil rights legislation it is worth the sacrifice.”

- comment on: http://www.slate.com/id/2246912/pagenum/2

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“Can anyone who seems so pissed to see this historic bill pass honestly tell me that they do NOT currently have insurance? ANYONE?” – another comment, same article.

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CNN Has a good write up. Here is the gist:

Things that will happen immediately:

• No cap: if you buy a policy, no healthcare provider will be able to cap the amount of care they will cover.
• $5 bil will be set aside to aide those who are uninsured with pre-existing conditions. This money will be available until 2014, when some more shit goes into effect.
• Children are insured until $26: parents/guardians will need to be sure to have these “not so young-uns” inside the family policy until 26 or inside their own policy. Meant to help the college and post-college folks who, let’s be honest, aren’t about to pay for health care when Hamm’s, Jack Daniels, and drive in movie tickets are so readily available.
• Old people in a specific medicare group D get $250 to pay for prescriptions. That group narrowing by 2011 and further more in 2020 as drug companies are required to discount common drugs by 50% in 2011 and 75% later on.

• so, I feel like this is a good thing, Right? Drug companies being forced to lower the price of needed medication?

What will happen in 2014:

• Health insurance exchanges will be created: these make it easier for individuals, small businesses and self employed to get more quality health care for less price.

• I was interested in what these insurance exchanges are and found this article: http://voices.washingtonpost.com/ezra-klein/2009/06/health_insurance_exchanges_the.html
• As an individual talking to insurance companies you have basically no leverage (because you’re only one account to them, not several), so you get high prices, or insufficient coverage, or total un-coverage of anything you’ve had before (so if you mentioned back pain to your doctor last time, you’re screwed next time). “The Health Insurance Exchange, combines the benefits of choice that are theoretically available on the individual market with the bargaining power and scale that’s generally accessible only in large employers”

• the “hardship exception” allows for people too poor to pay, giving a family of 4 up to $88,000 a year

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Christian Science Monitor: http://www.csmonitor.com/USA/Politics/2010/0322/Health-care-reform-bill-101-what-the-bill-means-to-you

• “Democratic healthcare reform would expand insurance coverage in America by requiring people to obtain it.”

• There are exceptions. Certain people with religious objections would not have to get health insurance. Nor would American Indians, illegal immigrants, or people in prison.
• Why are they doing this? Bringing in LOTS of people means Insurance companies are more likely to be OK with being forced to charge LESS for their plans.

• “Basically, people who make three or four times the poverty level would get enough federal money so that they would not have to pay more than about 10 percent of their income for a decent health insurance package.”

• Insurance companies will be prohibited from placing lifetime caps – limits on the amount of money that can eventually be paid out – on their policies. They’ll face new restrictions on setting annual caps, as well.
• Insurance companies also will be prohibited from pulling your coverage, except in case of fraud or intentional misrepresentation.
• Children won’t be excluded from coverage due to pre-existing health conditions. Plus, children will be able to stay on their parents’ policy until age 26.
• Small businesses that offer health coverage to employees will be eligible for tax credits of up to 50 percent of premium costs.
• Seniors who fall into the coverage gap, or “doughnut hole”, in the middle of the Medicare Part D prescription drug coverage plan will get $250 to help them pay their bills.
• People with pre-existing health conditions will be able to enroll in a new, but temporary, national high-risk insurance plan.

• Higher Medicare taxes on rich people: individuals making more than $200,000 a year, or married couples making more than $250,000 a year. First, Medicare Part A (that’s hospital insurance) tax rate would be increased by 0.9, Then, an entirely new tax of 3.8 percent on unearned income (dividends, interest, stuff like that) for people in those same income brackets. This starts Jan 1 2013.
• New tax on expensive health insurance: A tax on the insurance companies providing expensive health care plans…. starts 2018
• Fees on health care industries: since they’re getting a BUNCH of new customers, it’s only fair. Drug manufacturers, health insurers, medical device manufacturers…
• 10% increase in indoor tanning services… WTF?
• Medicare cuts…

• “If you are a fir m with more than 50 employees, and do not offer health insurance as a benefit, and at least one of your full-time employees gets a subsidy from the federal government to purchase health insurance on his or her own, you would have to pay Washington a fee of $2,000 for every one of your full-time workers.” What 50 employee companies don’t already offer health benefits? If they don’t, isn’t that really unfair?? i’m ignorant about this.