White House Releases $950 Billion Health Reform Proposal

This week President Obama released his proposal for health system reform. The proposal would cost $950 billion over 10 years, which is about $75 billion more than the cost of the Senate bill, but under the more than $1 trillion cost of the House bill. Provisions contained in the bill will be further discussed during this week’s televised bipartisan health reform summit.

 

The proposal:

  • Does not include a public option;
  • Would delay until 2018 an excise tax on high-cost insurance policies and raise the threshold for the tax for families from $24,500 to $27,500;
  • Would provide more tax subsidies for low- and moderate-income U.S. residents to help them purchase insurance, while enacting larger penalties on employers that fail to provide health benefits;
  • Would implement new, stricter measures to address waste, fraud and abuse in Medicare;
  • Would delay the implementation of taxes on various health care industry players, and change fees on medical device manufacturers to an excise tax;
  • Eliminates the so-called "Cornhusker Kickback" in the Senate bill, which would have covered the full cost of a Medicaid expansion in Nebraska;
  • Fully close the "doughnut hole" for the Medicare prescription drug benefit by 2020 — the Senate bill would have narrowed it by 50%; and
  • Would limit federal funding for the coverage of abortion services.
2010-02-26T00:00:00+00:00 February 26th, 2010|Advocacy|