March 27th, 2010

2010 Healthcare Reform Bill Updates and Summary.  The massive legislation that is the healthcare reform bill made its way through Capital Hill with record speed.  The changes are going to forever alter healthcare as we know it in our country.

The bill provides for subsidies for families between 133% and 400% of the federal poverty level to purchase healthcare in state exchanges. In addition families up to 133% of the poverty line will be eligible for Medicare – which extends Medicare benefits to millions of families.

IN addition, insurance companies won’t be able to deny coverage because of pre-existing conditions, and won’t be able to drop someone when they get sick.

Companies and individuals will have government-stipulated requirements to purchase healthcare.  Companies could face fines of up to $2,000 per employee for not offering insurance. Individuals could face up to $695.

The state run exchanges won’t be set up until 2014, and there is some word that there are a handful of states set to sue the federal government over the constitutionality of the bill. They claim that requiring companies and individuals to purchase insurance is infringing on constitutional rights of choice.

The updates of the reform bill include many Amendments that were passed late Thursday night by the House.  They were passed in the Senate earlier Thursday afternoon.  There’s no word at the White House when the bill as amended will be signed into law by the President.

The amendments include, among other things, provisions on how federal money will be used to fund abortions.

A timeline of the implementation of the healthcare reform bill can be found here.

Source:

CBS

CNN Money

Photo Credit: Morguefile.com free photo

Related Posts

Related posts brought to you by Yet Another Related Posts Plugin.