Healthcare Reform 2010: What Does Healthcare Reform Mean for Me?

What a weekend it’s been!  I was on vacation all week last week and missed the majority of the healthcare debate, but I’ve spent the last 3 hours catching myself up online.  As you probably know, the healthcare bill passed.  As you also probably know, I’m not at all for this bill or any other form of socialized healthcare.  Having said that, I don’t want to make this post a raging rant about how much a hate democrats and healthcare.  I’ll leave that up to John Boehner and the millions of other bloggers like myself who are…. less than thrilled about this recent vote.  Without further ado, here are the details, fair and unbiased, of what you can expect from the healthcare bill:

• First and foremost, this bill DOES NOT contain a public option.  This means that the government WILL NOT be offering a healthcare insurance service to Americans outside of previously enacted programs, such as Medicare and Medicaid.  However…
• The bill does call for the development of a “health insurance exchange” on a state level.  This would allow unemployed and those searching for their own health insurance option to “shop around” for affordably priced private health insurance.  Many of those scouring the health insurance market will be eligible to receive government subsidies to pay for the cost of the insurance, and the employed who are searching for an alternative will be aided in paying the premium by their employer.
• Like car insurance, health insurance will become mandatory by 2014 under this bill.  Those who do not have health insurance will be fined $95 or 1% of their income, whichever is higher, for the first year.  The fines could reach as high as $695 a year for the years after the first.  Families making under $29, 326 a year and individuals making under $14,404 a year will be exempt from this fine.  (AOL Health)
• Employers will be required to provide employees with health insurance by 2014, though small businesses (companies with 25 or less employees) will receive funding to help pay for the insurance.  Larger businesses will be forced to pay a fine of up to $2,000 per employee for which the business is not providing health insurance.
• For those with health insurance, you may still keep your current insurance provider with, hopefully, no problem.  Insurance companies will no longer be allowed to hike up premiums on sick patients, nor are they allowed to charge higher premiums to new customers with preexisting conditions.
• Senior citizens receiving Medicare will now receive additional services.  These changes are expected to take place this year.
• If you make over $250,000 a year, expect to see your taxes rise in the future.  The bill is projected to cost around $940 million annually, though some speculate the cost to be greater.  Doctors and Hospitals can also expect their Medicare reimbursements to shrink in the near future to pay for the new services.
• Though this has been the subject for MUCH heated debate, the bill will does not broaden federal funding for abortions.  President Obama is to sign an executive order that will continue the Hyde Amendment, which limits federally funded abortions to those in pregnancy brought on by rape, incest, or in case in which the mother’s life is in danger.  Though an executive order is considered law when signed by the president, they are tricky.  Executive orders can be overturned relatively easily, and if that happens the abortion language in the bill is loose enough that abortion could be funded by federal dollars, not directly, but technically. (I explain more on this later in my opinion post regarding the bill.)
• The bill does not do much in the way of tort reform, though that was previously alluded too.

What do you think of the new healthcare bill?  Any further questions about this bill means for you and your family?  Feel free to ask and I’ll dig for an answer!  Also, if you see something in this overview you think could be incorrect, feel free to let me know.  Also, for those interesting in reading my opinion on the healthcare bill, check back later tonight for that post.

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Thanks for reading!

Rick

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