2010 Health Care Bill to be Signed into Law

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:

  1. 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.
  2. Nearly everyone who earns less than 133 percent of the federal poverty levelĀ  (estimated 16 million people) will become eligible for Medicaid.
  3. 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.
  4. In 6 months time, new insurance policies will have to allow children to stay on their parents’ plan until the age of 26.
  5. 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.
  6. Within 6 months, all new insurance plans will have to cover the full price of preventative care, including annual physicals and children’sĀ  immunizations. In addition, prior-approval will no longer be a requirement.
  7. 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.

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