Well if there’s one thing the health care bill was good for is that it reawakened my ability to blog. For those of you who don’t know what I’m talking about, the Patient Protection and Affordable Care Act passed the House on Sunday and will be sent to President Obama to be signed into law. The bill is the Senate version of the Health care bill and is about 2,400 pages long. Now that we’ve passed it and can see what’s in it, let’s take a look at some of the major parts of the bill:
— The bill will provide “Quality Health Insurance Coverage for All Americans” by prohibiting preexisting health condition exclusions from insurance coverage.
–Prohibits a health plan from rescinding coverage of an enrollee except in the case of fraud.
–Health insurance exchanges: requires states to establish an American Health Benefit Exchange for purchase of qualified health insurance plans. Creates a related entity to assist with small business health coverage.
–Directs states to establish one or more reinsurance entities for reinsurance programs to assist in health care coverage.
–Requires individuals to maintain minimal health care coverage beginning in 2014. Imposes a penalty for failure to maintain such coverage with exceptions for low-income individuals, members of Indian tribes, people who object on religious grounds.
–Requires employers of 50 workers who don’t offer coverage to pay a fee up to $750 per worker.
–Beginning in 2010, small employers can elect a tax credit for 50% of their employee health care coverage expenses. Small employers are generally defined as businesses with no more than 25 employees.
–On abortion, permits states to prohibit abortion coverage in qualified health plans offered through an exchange in the state. It prohibits federal funds from being used for abortion services and requires separate accounts for payments for such services.
–The bill seeks to extend Medicaid coverage, beginning in 2014, to certain low-income individuals under age 65. States can expand Medicaid eligibility to these people as early as April 1, 2010.
–Sets new standards for Medicare payment to hospitals and doctors by linking “payment to quality outcomes under the Medicare Program.”
–Maintains Children’s Health Insurance Program funding for two years through fiscal year 2015.
–Medicaid Prescription Drug Coverage: seeks to close a gap in seniors’ prescription drug coverage known as the donut hole.
–Expands funding for Community Health Centers.
–Expands doctors and health care services, particularly in rural and underserved areas: increases loans made by schools to nursing students. Expands various health care professional training programs.
–To curb fraud and potential conflicts of interest, bill would require drug, device, biological and medical supply manufacturers to report “transfers of value” made to a medical professionals. Requires disclosure of physician ownership or investment interest in a manufacturer and new disclosure requirements for nursing homes.
–Implements the “Biologics Price Competition and Innovation Act of 2009” that gives drug makers 12 years of protection, or exclusivity, to sell biologic medicines before facing the threat of cheaper, off-brand alternatives.
Tax increases:
–New excise tax on high premium insurance plans raises $149.1 billion over 10 years. This tax would be 40% of premiums paid on plans costing more than $23,000 for family plans and $8,500 for individual plans.
–New Medicare tax on wealthy: increases after December 31, 2012, the Medicare hospital insurance tax rate by 0.9 percentage points for individual taxpayers earning over $200,000, or married joint filers making more than $250,000.
–Imposes an annual fee on manufacturers and importers of certain medical devices beginning in 2011.
–Imposes an annual fee on certain makers of branded prescription drug beginning in 2010.
–Raises medical tax deduction threshold from 7.5% to 10% of adjusted gross income beginning after 2012.
–Imposes a 10% excise tax on indoor tanning after July 1, 2010.
–Major provisions in the bill would not take effect until January 1, 2014.
I realize that’s a long summary, but if you’re curious about what’s in this bill, there you go!