CBSNews.com has provided these Key Provisions of the Healthcare Bill. They are an unbiased, neutral source - moreso than any other we've seen so far:
- Creates a public health insurance option and a national exchange for the uninsured and small businesses to purchase health insurance. The Secretary of Health and Human Services would negotiate rates with doctors and hospitals on reimbursement rates.
- The bill includes mandates for individuals to purchase and businesses to provide health insurance or pay a fine. Individual penalty is 2.5 percent of gross income unless they get a waiver. Businesses that don't offer insurance pay a fine equal to 8 percent of their payroll. Businesses with a payroll of less than $500,000 are exempt from the mandate.
- Insurance companies are prohibited from denying coverage based on a pre-existing condition. There are caps on deductibles and annual out of pocket spending is capped at $5000.
- Eliminates the Medicare doughnut hole over ten years. (Note: The Medicare Part D coverage gap (also known as the Medicare doughnut hole) is the difference of the initial coverage limit and the catastrophic coverage threshold, as described in the Medicare Part D prescription drug program of the United States.)
- Allows individuals up to 27-years-old to stay on their parent’s health insurance
- Expands Medicaid from 100 percent to 150 percent of the Federal Poverty Level.
- Provides tax subsidies for individuals between 150 and 400 percent (sliding scale) of the Federal Poverty Level. There are also tax subsidies for small businesses.
- As amended, it prohibits federal funds from covering abortions. Women would need to purchase riders to insurance purchased on the exchange if they wanted that coverage.
- The bill taxes individuals making more than $500,000 and $1 million for couples. It is a 5.4 percent tax.
- Reduces overpayments to doctors who treat Medicare Advantage patients. It is estimated they are paid 14 percent more than doctors who treat Medicare patients.
Posts
