After experiencing some debate, Obama health care plan finally approved. Yesterday President Obama got his new health care bill from the House of Representatives with a vote of 219-212. Obama’s new health care bill will be sent to the White House for signed and ratified as law.
The following are 10 main points of new health care bill and how Medicare recipients will be affected by it.
- Children may remain as dependents on their parents’ policy until their 27th birthday.
- Children under age 19 may not be excluded for pre-existing conditions.
- No more lifetime or annual caps on coverage.
- Free preventative care for all.
- Adults with pre-existing conditions may buy into a national high-risk pool until the exchanges come online.
- Small businesses will be entitled to a tax credit for 2009 and 2010, which could be as much as 50% of what they pay for employees’ health insurance.
- The “donut hole” closes for Medicare patients, making prescription medications more affordable for seniors.
- All insurers must post their balance sheets on the Internet and fully disclose administrative costs, executive compensation packages, and benefit payments.
- Authorizes early funding of community health centers in all 50 states. Community health centers provide primary, dental and vision services to people in the community, based on a sliding scale for payment according to ability to pay.
- Effective immediately, you can’t lose your insurance because you get sick.
The new health care bill is hoping to raise the amount of insured Americans by 11% to 94% by 2014. The huge cost of the new health care bill will be made up by added taxes, including an increased Medicare payroll tax. This brings the affect the health care bill will have on Medicare beneficiaries.
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