In case you missed it, the United States House of Representatives passed Obama's health care bill last night. After months of debate, it came down to seven votes in the House. Ohio's Representatives split down the middle, nine for and nine against, the surprising vote being that of Zack Space who broke from the Democratic Party and voted No. It was an interesting turnaround as Space generally votes the party line.
So what did we get? A lot of it is still a mystery, not only to me but to the Representatives who voted on the bill. One thing is sure however. It is going to cost a bundle, and you and I are going to pay for it
The Congressional Budget Office estimates that it will cost 875 billion dollars over the next ten years. The scary part is that if you don't want to buy health insurance, in four years you'll be fined seven hundred fifty dollars a year. We still don't know what it is going to cost to buy health insurance. If you work for a company with less than 50 employees, the company evidently won't have to provide insurance to you, so want it or not, as an employee, it is going to cost you a minimum of $750. Well, maybe, because if you can't afford it, there are going to be tax credits to help you but health insurance through a State agency. And folks making less than 133% of the federal poverty level will become eligible for Medicaid.
The House also decided to change Medicare. This plan will use the power of Federal money, obtained from the Medicare tax, to force doctors, hospitals and other private-sector medical providers to become "more efficient and provide better care". Wait a minute. The Federal Government is going to show private industry how to become more efficient and provide better services? Medicare Advantage, the country's largest health insurance plan, will probably lose in excess of 120-billion dollars in the next ten years and will cut back on benefits as a result.
Good news however for stay-at-homes, the "children", ages 25 and less, who will be allowed to stay on their parents policies. This change is to take place in six months.
If you run a small business with fewer than 25 employees, whose yearly wages average fifty thousand dollars, you will get tax credits to help pay off the mandatory insurance for your employees.
In six months all insurance coverage will be required to pay for preventative health care, all of it, which means annual physicals. Preexisting conditions will no longer exist. All children will be covered for all conditions. This will be accomplished thanks to states being given five billion dollars each to set up high risk pools. Insurance companies will no longer be allowed to drop people because of their claim history and benefits will last for a lifetime.
Effective July 1, the Medicare drug plan will mandate a 50% discount on name brand drugs for low-income old folks.
But wait. There's more. Not being satisfied with passing one bill, the House passed another, which is on it's way to the senate. This one would give tax credits to families who make less than 400% of the Federal Poverty Level. For a family of two, this earning level $58,286 a year. For a family of four the eligible income level for tax credits is $88,100 or lower. By 2014, a cost cap of 9.4% of total income for insurance for those below 400% of the poverty level becomes effective.
The House would also add a 3.8% Medicare tax on investment income. Instead of the proposed 40%tax on employer provided medical insurance policies, the House would revise the penalty for employee failure to purchase medical insurance to $695 a year or 2 1/2 percent of the employee's income, which ever is higher. The fine for companies which do not provide "affordable" insurance to employees, will be increased to $2,000 an employee.
Well, Obama's Washington doesn't want you to worry. First of all, while the cost of the plan is nine hundred forty billion dollars over the next ten years, it will lower budget deficits by a hundred forty billion. That only increases the debt by $800,000,000,000. Yep, that's eight hundred billion. But wait! What happens to the $143 billion? I know. It is going to paid back to the taxpayer. Nah. It is going to be spent on some other government program, who knows what? Probably global warming research.
We should be filled with confidence that passage of the bill last night, and the one being sent to the Senate, will solve the problems currently abounding in a country with the best medical care available in the world. It will show those greedy companies which provided insurance for a profit of slightly over 3% the error of their ways. It will get those doctors who, to provide medical care to the sick who can't afford it, write off their costs, to understand their place in the medical profession.
Congress has the experience to make medical care in the United States better. They have the experience to control budgets. They have the knowledge to understand the desires of those who elected them. After all, it was Congress which passed the first Medicare and Medicaid bills, which had a 50% over-run the first year of their existence and have been in debt ever sense. It is Congress which pays thousands of dollars for hammers, millions for Pelosi's, and others, use of Air Force aircraft to go home on weekends. These are people of integrity, who just forgot to pay income taxes. These are people who don't understand that 65% of the people of the United States are against more government regulation, especially of medical services. These are the economists who don't understand that increased business expenses and more taxes don't create jobs.
The still unanswered question: Who's going to pay for this?
Makes yu' feel kinda proud of 'em, don't it.
So what did we get? A lot of it is still a mystery, not only to me but to the Representatives who voted on the bill. One thing is sure however. It is going to cost a bundle, and you and I are going to pay for it
The Congressional Budget Office estimates that it will cost 875 billion dollars over the next ten years. The scary part is that if you don't want to buy health insurance, in four years you'll be fined seven hundred fifty dollars a year. We still don't know what it is going to cost to buy health insurance. If you work for a company with less than 50 employees, the company evidently won't have to provide insurance to you, so want it or not, as an employee, it is going to cost you a minimum of $750. Well, maybe, because if you can't afford it, there are going to be tax credits to help you but health insurance through a State agency. And folks making less than 133% of the federal poverty level will become eligible for Medicaid.
The House also decided to change Medicare. This plan will use the power of Federal money, obtained from the Medicare tax, to force doctors, hospitals and other private-sector medical providers to become "more efficient and provide better care". Wait a minute. The Federal Government is going to show private industry how to become more efficient and provide better services? Medicare Advantage, the country's largest health insurance plan, will probably lose in excess of 120-billion dollars in the next ten years and will cut back on benefits as a result.
Good news however for stay-at-homes, the "children", ages 25 and less, who will be allowed to stay on their parents policies. This change is to take place in six months.
If you run a small business with fewer than 25 employees, whose yearly wages average fifty thousand dollars, you will get tax credits to help pay off the mandatory insurance for your employees.
In six months all insurance coverage will be required to pay for preventative health care, all of it, which means annual physicals. Preexisting conditions will no longer exist. All children will be covered for all conditions. This will be accomplished thanks to states being given five billion dollars each to set up high risk pools. Insurance companies will no longer be allowed to drop people because of their claim history and benefits will last for a lifetime.
Effective July 1, the Medicare drug plan will mandate a 50% discount on name brand drugs for low-income old folks.
But wait. There's more. Not being satisfied with passing one bill, the House passed another, which is on it's way to the senate. This one would give tax credits to families who make less than 400% of the Federal Poverty Level. For a family of two, this earning level $58,286 a year. For a family of four the eligible income level for tax credits is $88,100 or lower. By 2014, a cost cap of 9.4% of total income for insurance for those below 400% of the poverty level becomes effective.
The House would also add a 3.8% Medicare tax on investment income. Instead of the proposed 40%tax on employer provided medical insurance policies, the House would revise the penalty for employee failure to purchase medical insurance to $695 a year or 2 1/2 percent of the employee's income, which ever is higher. The fine for companies which do not provide "affordable" insurance to employees, will be increased to $2,000 an employee.
Well, Obama's Washington doesn't want you to worry. First of all, while the cost of the plan is nine hundred forty billion dollars over the next ten years, it will lower budget deficits by a hundred forty billion. That only increases the debt by $800,000,000,000. Yep, that's eight hundred billion. But wait! What happens to the $143 billion? I know. It is going to paid back to the taxpayer. Nah. It is going to be spent on some other government program, who knows what? Probably global warming research.
We should be filled with confidence that passage of the bill last night, and the one being sent to the Senate, will solve the problems currently abounding in a country with the best medical care available in the world. It will show those greedy companies which provided insurance for a profit of slightly over 3% the error of their ways. It will get those doctors who, to provide medical care to the sick who can't afford it, write off their costs, to understand their place in the medical profession.
Congress has the experience to make medical care in the United States better. They have the experience to control budgets. They have the knowledge to understand the desires of those who elected them. After all, it was Congress which passed the first Medicare and Medicaid bills, which had a 50% over-run the first year of their existence and have been in debt ever sense. It is Congress which pays thousands of dollars for hammers, millions for Pelosi's, and others, use of Air Force aircraft to go home on weekends. These are people of integrity, who just forgot to pay income taxes. These are people who don't understand that 65% of the people of the United States are against more government regulation, especially of medical services. These are the economists who don't understand that increased business expenses and more taxes don't create jobs.
The still unanswered question: Who's going to pay for this?
Makes yu' feel kinda proud of 'em, don't it.
OHIO HAS A LAW FOR "CHILDREN" STAY ON PARENTS PLAN TILL 28 EFFECTIVE JULY 1,2010.
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