Political Science SOC 215
September 6, 2012
Health Care Reform Bill
The Healthcare Reform/Affordable Care Act was passed by Congress, and signed into law by President Obama on March 23, 2010. By a vote of 219 to 212, the House of Representatives passed the health care reform bill. On June 28, 2012 the Supreme Court rendered a final decision to uphold the health care law.
The Health Care Reform Act allows individuals, families, and business owners to control their health care. It reduces premium costs for working families and small businesses in particular, by providing billions of dollars in tax relief. It is the largest middle class tax cut for health care in history. It also caps out of pocket expenses for families. Additionally, Americans without insurance coverage will be able to choose the insurance coverage that works best for them in an open, competitive insurance market.
According to reports, the costs of the Health Care Reform Bill would costs approximately $940 billion dollars over ten years, and reduce the deficit by $143 billion over the first ten years.
Ten facts about the Health Care Reform Act are:
1. Not one Republican voted for the bill
2. 34 Democrats voted against it
3. 32 Million is the estimated number of currently uninsured Americans who will receive coverage under the bill.
4. $53 billion of the $143 billion in deficit reduction that comes from social security payroll taxes that eventually will be paid out in the form of retirement benefits.
5. The maximum amount you can set aside pre-tax for health care costs in a flexible spending account will be reduced from $5,000 to $2,500.
6. Companies with more than 50 employees would be required to pay a fee of $2,000 per employee if the company does not provide health coverage.
7. Insurance companies are prohibited from denying coverage based on pre-existing conditions.
8. Government payments to Medicare Advantage would be...