|October 29, 2009||Posted by ITUP under Blog||
…is now the official House health reform bill and can be accessed in its entirety here.
Major components of the ~$894B bill that will extend coverage to 36 million more Americans:
-Employer shared responsibility requirement
-National Public Option with negotiated provider reimbursement rates (note: this costs $85B more than the ‘robust’ Medicare+5% reimbursement rates)
-Expands Medicaid to 150% FPL ($16K for an individual, $3K for a family of four)
-Strips the health insurance industry of antitrust law exemption, and grants FTC authority to investigate the industry
-Removes the Sustainable Growth Rate (SGR) fix from the bill in order to bring down the cost of reform (this will be a separate bill)
-Raises Medicaid reimbursement rates to Medicare levels
-New temporary high risk pool for uninsured to obtain coverage during 2010-2013 implementation period
-Cuts the federal deficit by $30B over 2010-2019
-5.4% tax on individuals with income over $500,000 and families over $1 million
-Additional taxes on health care industry
The bill will be scored by the CBO in the coming days and brought to the House floor next week. Speaker Pelosi has targeted a final vote for before Veteran’s Day, November 11th.