YOU ASK:

What do I need to know about Health Care Reform?

WE ANSWER:

The new health care reform bill is a hot topic, since it will substantially affect access to medical care and health insurance. And so you won't feel left out of the conversation, here are a few basic things that you need to know about Health Care Reform:

  • This bill was actively pushed by President Obama in response to the fact that an astounding number of Americans don't have insurance or are underinsured.
  • The bill aims to provide affordable insurance to more people. It will do this by expanding eligibility to Medicare as well as creating a government-sponsored health insurance package.
  • The bill will also work to prohibit the "abuses" of health insurance providers. These include their denying and cancelling policies when one gets sick, setting lifetime limits on benefits and on the overall plan, and pricing insurance plans based on one's health.
  • With this bill, children will get to stay with their parents' insurance until they are 26 years old.
  • In addition, the changes being implemented by the bill will bring immense cost savings that will also in turn lower the cost of medical insurance.
  • The bill will make insurance more affordable by way of tax credits and subsidies.
  • The money needed to implement the bill will come not just from the cost savings of having a more efficient healthcare system, it will also come from increased taxes (or rather reduced tax deductions) for those who have high incomes. In addition, those who buy top-of-the-line health insurance policies will pay a higher tax on these policies.
  • It will also help employers provide health insurance for their employees by providing tax credits.
  • Eventually, the bill will require citizens to be covered with insurance and employers to provide health coverage to their employees. Otherwise, those who don't comply will have to pay a fine.
  • Those who are apprehensive about the bill need not worry that it will force them into a plan they don't want or that it will require them to change their doctors. It will not.
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