After decades of back and forth bickering and debate, health reform is now law in the United States, thanks to Barack Obama and all the Democrats who fought hard for this change.

So what does healthcare reform mean for you? It means an end to the worst insurance company abuses, new rules that treat everyone fairly, and more choices and affordable health insurance for millions of Americans.

At My.BarackObama.com/ReformInMyState there is a very interesting video of what Healthcare Reform Means for you. The video highlights how Healthcare Reform will affect your state.  

For example, benefits of healthcare reform in Georgia means:

• In Georgia alone 222,085 people with pre-existing conditions will not longer be denied coverage
• Tax credits for 897,000 people
• Tax cuts for 106,000 small businesses
• 30,100 families will be saved from bankruptcy in just one year
• 1.7 uninsured will now be insured
• More choices and more control over their healthcare

You can learn more about benefits reform in your state at My.BarackObama.com/ReformInMyState

Below is a video of supporters of Healthcare Reform.

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It’s shameful that President Obama and the Democrats have worked so hard to reform healthcare and there are so many people still against it.  The people against it, I assume have healthcare insurance and don’t really care about their fellow neighbor who can’t get healthcare insurance because of a preexisting condition or who can’t afford it.   Or maybe they are just diehard Republicans.  However, I’m certain the 32 million people who don’t have health insurance are happy.  Although the healthcare reform bill isn’t perfect it sure is a very good first step.

Below are facts about the Healthcare Reform Bill:

Deficit:

• According to the CBO (Congressional Budget Office), the bill will reduce the deficit by an estimated $143 billion in first 10 years.

Coverage:

• Expands coverage to approximately 32 million Americans currently uninsured.

Health Insurance Exchanges:

• Uninsured and self-employed will be able to buy insurance through state-based exchanges with subsidies available to individuals and families with income between the 133% and 400% of poverty level.
• In 2014 Separate exchanges will be created for small businesses to purchase coverage.
• States will be funded to create exchanges within one year of enactment and until January 1, 2015.

Subsidies:

• Individuals and families who earn between 100% and 400% of the Federal Poverty Level (FPL) and want to purchase their own health insurance on an exchange are eligible for subsidies. They cannot be eligible for Medicare, Medicaid and cannot be covered by an employer. Eligible buyers receive premium credits and there is a cap for how much they have to contribute to their premiums on a sliding scale.

Medicare:

• Closes the Medicare prescription drug “donut hole” by 2020. Seniors who hit the donut hole by 2010 will receive a $250 rebate.
• Starting in 2011, seniors in the gap will receive a 50% discount on brand name drugs. The bill also includes $500 billion in Medicare cuts over the next decade.

Medicaid:

• Medicaid expanded to include 133% of federal poverty level which is $29,327 for a family of four.
• States will be required to expand Medicaid to include childless adults starting in 2014.
• Federal Government pays 100% of costs for covering newly eligible individuals through 2016.
• Illegal immigrants are not eligible for Medicaid.

Insurance Reforms:

• After six months insurance companies can no longer denying children coverage based on a preexisting condition.
• In 2014 insurance companies cannot deny coverage to anyone with preexisting conditions.
• Children can stay on parent’s insurance plans until age 26th.

Abortion:

• Private insurance premium funds are segregated from taxpayer funds. Individuals will have to pay for abortion coverage by making two separate payments.
• No health care plan will be required to offer abortion coverage. States can pass legislation choosing to opt out of offering abortion coverage through the exchange.

Individual Mandate:

• In 2014, everyone must purchase health insurance or face a $695 annual fine. However, there are exceptions for low-income people.

Employer Mandate:

• Employers with more than 50 employees must provide health insurance or pay a fine of $2000 per worker each year if any worker receives federal subsidies to purchase health insurance. Fines applied to entire number of employees minus some allowances. Technically, there is no employer mandate.

Immigration:

• Illegal immigrants will not be allowed to buy health insurance in the exchanges.

Source: CBS News

Related Article:

• How Will Healthcare Reform Affect You?

We keep hearing in the media that Americans overall oppose President Obama’s healthcare plan 51% to 37% which amazes me.  However, according to a Newsweek Poll, Americans overwhelmingly favor specific provisions in Obama’s healthcare plan, which includes:

• 73% want businesses to offer healthcare insurance
• 78% favor insurance companies cover everyone regardless of their health
• 81% like the idea of insurance exchanges

However, when those polled were told that these provisions are apart of Obama’s plan support only jumps to 10%.  This just makes no sense.  

It seems many American’s are unaware of why healthcare reform is needed and what it entails.  They aren’t concerned about healthcare because they aren’t ill or have a job that provides coverage.   It’s all about every man for himself.  It seems many Americans aren’t concerned about their fellow uninsured neighbors!  Unfortunately, when something goes bad (illness, loss of job, coverage denied) then they realize how screwed up our healthcare system is.  By then its too late! 

The House and Senate are currently working on merging the two Healthcare Bills they recently passed.  In the Senate democrats cannot afford to lose a single vote so it’s likely the bill will entail most of the Senate democrats want.  Although the final bill is weeks or months away, the following is what you may expect:

1. You must purchase healthcare and file proof with your 2014 tax return or pay a $95 fine to the IRS.  The fine increases to $350 in 2015 and $750 in 2016.
2. Government-regulated health insurance exchanges for individuals and small businesses will provide affordable plans. Insurers must offer coverage that in 2010 would cost no more that $5,950 for individuals and $11,900 for families.
3. Out of pocket expenses will be capped based on income. A family of three making $73,240 in 2009, would be required to pay no more than $7,733 in medical costs.
4. Medicare will cover more people.  Anyone making less than $14,440 and under 65 years old will be eligible.  
5. People with preexisting medical conditions cannot be denied coverage.  Until this goes into effect in 2014, the government will spend $5 billion to subsidize people deemed high risk with preexisting conditions and have been uninsured for more than 6 months.
6. Riskier people cannot be charged outrageous premiums.  Older people will pay a maximum of 3 times more than younger people and smokers 1.5 times more than non-smokers.
7. Kids will stay longer on their parent’s medical insurance.  Dependents are usually cut off after graduation from high school or college.  The age would be extended to 26.
8. Drug manufacturers must discount brand name drugs by 50% for people spending between $2,700 and $6,154 annually on prescriptions (A.K.A. Medicare coverage gap).
9. Individuals earning up to $43,320 or families earning up to $88,200 will receive credits throughout the year to subsidize their premiums.
10. Cadillac plans may be eliminated.  The portion of a premium exceeding $8,500 for individuals or $23,000 for families will be subject to a 40% tax paid by the insurer.  This is done to discourage such plans.

Source: News Week

As expected the Senate approved a $626 billion bill to fund the Defense Department for the fiscal year that began almost three months ago.  The bill was approved via an 88—10 vote.  The bill next stop is the White House where President Barack Obama is expected to quickly sign the bill into law.

The bill includes $128 billion for wars in Iraq and Afghanistan, $13.3 billion to extend unemployment and COBRA benefits for the long-term unemployed whose benefits would otherwise expire.

Good news for those of you unemployed.  The House of Representatives today passed a temporary extension of unemployment benefits and subsidized COBRA health insurance for laid-off workers as part of a $636 billion spending defense bill.  The measure was approved on 395-34 vote.

The Bill extends the COBRA subsidy by 6 months to a total of 15 months where 65% of the premium is paid by the government.  This is for people who lost their jobs through February 28, 2010.  People who lose their jobs after December 31, 2009 are not eligible for the subsidy. The legislation requires employers to notify current COBRA and future beneficiaries of the new 15 month premium subsidy.

Additionally, the new legislation will give beneficiaries whose subsidy expired and who didn’t pay the full premium a second chance to get coverage. For example, a beneficiary whose nine months of subsidized coverage ran out November 30 and who didn’t pay the regular unsubsidized December premium could pay the 35% premium share in January and receive coverage for December.

The Senate should pass its defense bill with the same extensions this Friday.

Keith Olbermann of MSNBC has been tirelessly supporting the public health insurance option and tonight’s show is bound to be powerful. Keith Olbermann has a goal of getting 50,000 people to take his pledge to watch his hour-long Special Comment on health care reform this Wednesday and to tell 5 of my friends to take this pledge.” Click here to take the Olbermann Pledge.

See the interesting video below of Keith Olbermann stance on the healthcare debate.

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