What is in the Health Care Reform Bill?
- Will extend health care coverage to millions of uninsured Americans, will end health plans denying coverage to individuals that are sick, and plans to reduce the deficit in future decades.
- The Patient Protection and Affordable Health Care Act establishes high risk pools within 90 days.
- Pre-existing goes away on January 1st, 2014.
- The bill costs $1 trillion dollars by reducing Medicare and Medicaid spending primarily to hospitals, introduces new taxes, including .9 percent Medicare payroll tax for workers making more than $200,000 or couples making more than $250,000/yr, and a 3.8 percent tax on unearned income for same tax brackets, and a "cadillac" tax on high-end employer sponsored insurance plans that cost more than $27,500 (won't be effective until 2018). The Congressional Budget Office estimates that with these measures the deficit will be reduced by $143 billion in the first decade and more than $1 trillion in the second decade.
- There is a fine for not having health insurance through the tax system. The fee begins in 2014 with $95 or 1 percent of income, but begins to increase through 2016 when uninsured Americans will be required to pay $695 per year with a maximum of $2,085 per family or 2.5 percent of household income.
- Federal funds are not allowed to be used for abortions.
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