Black Americans and other minority groups are still underinsured in 2010. What does the latest Health reform bill do for those who have no insurance and are afraid of paying too high a cost for preexisting conditions? What can we expect in regards to the cost, choosing a plan if we will we be under government control? Can these questions be answered satisfactorily by this new reform bill?
Before the new Administration started putting together a reform that was feasible but beneficial to most under insured and uninsured American, they had to look at the way the health care industry has been running. They had to look at what the major problems are and how to address them in a way that will satisfy the people and be agreed upon by the majority of the senate. They knew that many Americans complained of the high cost of insurance even those who are insured and admit to having adequate coverage still feel slighted. There is actually no limit on what any insurance providers can charge and they can also refuse to sell you insurance at any time. You, the insured, are at their mercy.
This new reform will soon change all that. There will be a limit to how much a person or family can be charged. Insurance companies will no longer be able to refuse anyone health care and they will no longer be able to increase prices because you become ill or refuse to pay when you are scheduled for major surgeries or prescribed expensive medication for life long or terminal illnesses. Now how much is this going to really cost in the long run. Well it will cost $940 billion over the first ten year. But nothing is for free and if you think about that and are sitting at home with diabetes and no insurance, you’ll get over it. The overall high cost that is. This is supposed to be paid for by other increases in taxes around $210 billion by 2019. The increases in taxes include a higher tax for the rich or at least those who earn over $200,000 as an individual or $250, 00 a year for married couples. Of course the price on Medicare will go up, how much will Medicare Part A, hospital insurance, will increase to 2.35 which means a hike of 0.9 percent. This will take place after January 2013.
There is a new 3.8 percent tax on unearned income for the income bracket previously mentioned. There will be a new tax on expensive health insurance or the “Cadillac Tax”. The expensive insurance for insurer s of employer health plans that cost over $10,000 a year for individuals and $27,000 for families annually. This will take place in 2018.
Health insurers will payout $47 billion and the drug pharmaceutical companies will have to pay their share of $16 billion, I think that number should be reversed; pharmaceutical manufacturers make loads of money. Manufacturers of medical devices will pay an excise of 2.7 billion. Medicare payments will be reduced at least $40 billion over a 10 year span and there would be at least $22 billion in hospital cuts.. This will all take place starting in 2011 to 2019.
