President Obama will sign the landmark healthcare bill into law on Tuesday, March 23. The House approved the Senate bill by a 219-212 vote yesterday evening. There was also a vote for a reconciliation bill, which was 220-211. No Republican voted for either measure.
The Healthcare Reform Bill will likely affect every man, woman and child in the United States. Here are just a few of the changes to come:
- An estimated 24 million people who currently lack access to affordable health insurance through their workplace will be eligible for tax credits to buy their own insurance.
- Nearly everyone who earns less than 133 percent of the federal poverty level (estimated 16 million people) will become eligible for Medicaid.
- Medicare will also see some changes that should deliver care more efficiently and come at a lower price. Whereas Medicare Advantage will likely lose $120 billion over the next 10 years.
- In 6 months time, new insurance policies will have to allow children to stay on their parents’ plan until the age of 26.
- Within 6 months, small businesses with fewer than 25 employees and average annual wages up to $50,000 will receive tax credits to offset the cost of buying insurance for their workers.
- Within 6 months, all new insurance plans will have to cover the full price of preventative care, including annual physicals and children’s immunizations. In addition, prior-approval will no longer be a requirement.
- Children with medical conditions will no longer be denied coverage, and insurers will no longer be able to impose lifetime limits on benefits, nor will they be able to drop a person when they file a claim.
For more information on the healthcare bill’s changes, click on The Washington Post’s article: Obama to sign health-care bill into law Tuesday.