Six months after enactment:
- Bar insurers from denying people coverage when they get sick.
- Bar insurers from denying coverage to children with pre-existing conditions.
- Bar insurers from imposing lifetime caps on coverage.
- Require insurers to allow people to stay on their parents' policies until they turn 26.
Nine months after enactment
- 50% of the donut hole will be covered. Eventually, the health care reform bill will close the donut hole entirely
Within A Year:
- Provide a $250 rebate this year to Medicare prescription drug beneficiaries whose initial benefits run out when they enter the donut hole.
- Require new insurance policies to cover certain preventive-care measures with no out-of-pocket cost to the consumer.
- Require Insurance companies to stop imposing lifetime coverage limits on your insurance.
- Sharply limit annual caps on your insurance.
- Require Insurers with unusually high administrative costs to offer rebates to their customers, and every insurance company has to reveal how much it spends on overhead.
- Require individual and small group market plans to spend 80% of premium dollars on medical services. Large group plans would have to spend at least 85%.
- Taxes begin being levied on drug manufacturers.
- Physicians' Medicare fees will be cut more than 25% unless the sustainable growth rate is permanently repealed by Congress; -
- Initiate Medicare bonus of 10%over five years for primary care and general surgery (family medicine, internal medicine, geriatrics and pediatrics)
- Businesses must file Form 1099s for all business-to- business transactions of $600 or more.
- Increase the Medicare payroll tax and expand it to dividend, interest and other unearned income for singles earning more than $200,000 and joint filers making more than $250,000.
- Require public reporting of physician performance to begin.
- Begin testing Medicare pilot programs care payments based on "quality over quantity" of services rendered.
- Make fewer medical expenses tax deductible.
- Raise wage taxes from 1.45% to 2.35%;
- New tax of 3.8 percent levied on unearned income streams like interest and dividends
- New tax of 2.9 percent on medical device sales.
- Provide subsidies for families earning up to 400% of poverty level, currently about $88,000 a year, to purchase health insurance.
- Require most employers to provide coverage or face penalties.
- Require most people to obtain coverage or face penalties for noncompliance.
- Create state insurance exchanges for individuals and small businesses to purchase coverage.
- Prohibit Insurance companies from denying coverage for pre-existing conditions.
- Expand Medicaid to all Americans under age 65 earning up to 133% of the federal poverty level.
- Increase Subsidies for some small business providing coverage to employees.
- Initiate independent Payment Advisory to make recommendations for cutting Medicare costs.
- Penalties for individuals refusing to purchase insurance rise to 2.5% of taxable income or $695, whichever is greater.
- Multi-state compacts allowed to sell policies across state lines
- Impose a 40% excise tax on high-end insurance policies.
- Expand health insurance coverage to 32 million people.
[Source: Speaker of the House, Congressional Budget Office, Kaiser Family Foundation via McClatchy Newspapers article 21 Mar 2010 ]
Ben Krause - Virginia Beach
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