One Step Closer to Health Care Reform: The House of Representatives Announces a Bill
Yesterday, the House announced they have combined the three bills passed by the House Committees . The almost 2,000 page bill includes the public health insurance option and is estimated to cost $894 billion over ten years while extending insurance coverage to 36 million Americans . According to the Congressional Budget Office, this bill will guarantee that 96 percent of Americans have health insurance (20 percent of individuals under age 65 were without health insurance in 2008). In addition to the public option, the bill: subsidizes insurance for poorer Americans, creates health insurance exchanges to make it easier for small groups and individuals to purchase coverage, caps annual out-of-pocket expenses, and prevents insurance companies from denying coverage for pre-existing conditions. Through tax surcharges on wealthy Americans and spending constraints in Medicare and Medicaid, the bill is expected to cut the federal deficit by roughly $30 billion over the next decade. Spec...