American Retired Seniors

Speaker of the House, Nancy Pelosi, announced the House health care reform plan which is expected  to “provide insurance to up to 36 million people by broadly expanding Medicaid, the state-federal insurance program for the poor, and by offering subsidies to moderate-income Americans to buy insurance either from private carriers or a new government-run plan,” as reported by the The New York Times.

Thursday morning unveiled a House health care reform plan that is expected to cost about $894 billion and “provide insurance to up to 36 million people by broadly expanding Medicaid, the state-federal insurance program for the poor, and by offering subsidies to moderate-income Americans to buy insurance either from private carriers or a new government-run plan,” The New York Times reports.The Congressional Budget Office, reports this bill will reduce future federal deficits by about $30 million over the next 10 years.

The House bill would impose a new income surtax on individuals earning more than $500,000 and couples earning more than $1 million, a so-called millionaire’s tax. The Senate would impose a tax on high-cost insurance policies; a move that experts say could help lower long-term health care costs by giving employers, employees and private insurers’ incentive to reduce expenditures.

According to CNN “The bill guarantees that 96 percent of Americans have coverage, Pelosi’s office said. The figure is based on an analysis by the nonpartisan Congressional Budget Office.  Under the House plan, health care providers would be allowed to negotiate reimbursement rates with the federal government, according to Democratic leadership aides.”

And The Washington Post reports “The bill includes a version of the ‘public option’ preferred by moderates and raises Medicaid eligibility levels to 150 percent of the federal poverty level for all adults, a steeper increase than in earlier drafts.”

The bill seeks ”to provide health insurance of one form or another to 96 percent of all Americans at an expected cost just below $900 billion over 10 years, without increasing the federal budget deficit for at least 20 years, House Democrats said. It opens the doors to quality medical care for those who were shut out of the system for far too long,’ Pelosi said”

After decade’s long inaction, this is a major step to ensure all Americans receive quality, affordable health care.  Unfortunately Republicans who have always opposed social security and Medicare programs are against health care reform.

A Harvard study reveals 45,000 people die from lack of health insurance every year, that is more people die each month than were killed in the terrorist attack on 9/11.

It is disappointing that health care reform will not commence until 2013 and this delay could cause more than 100,000 unnecessary deaths.  Still, Americans are hopeful for the passage of a health care reform bill.

Filed under: Senior Health Care