Obama's health care

Introduction

The Patient Protection and Affordable Care Act is a public law that was signed in the United States by Barack Obama, the President of United States on March 23, 2010. This Act is a product of the health care reform program of the Obama government and the 111th Democratic Congress. The Congress Budget Office approximated that the new regulation as changed would decrease the federal shortfall by $143 billion over the first ten years and in the ten years after that by an allowance matching in a very broad variety between one quarter per hundred and one-half per hundred of GDP.

Summary of the Bill

New Health Care Bill Summary is getting the attraction by the people. New Health Care Bill Summary has been passed by the Government in United States. It would not be out place to mention here that New Health Care Bill Summary has been passed by the House and only the Democrats voted in favor of the bill. A group of Democrats and Republicans voted against the bill, as they were not in favor of the New Health Care Bill Summary. If we look into some of the details of the bill, we see that insurance has been arranged for all the people living in the country. The insurance will be mandatory for everybody and not opting for the insurance may attract penalties from the state. Those who do not opt for the insurance will be charged a penalty of 2% of their income. Even the companies, which will not arrange insurance, will be penalized heavily with relation to the number of workers working with them.

Main points

Who is covered: 32 million people are now uninsured. The big expansion will start in 2014. When complete, 95% of Americans who qualify for coverage will have it, compared to 83% today.

Cost: U.S. $ 940.000 million in ten years, according to the Congressional Budget Office.

Compulsory insurance: nearly everyone will be insured or pay a fine, which comes into force in 2014. There is an exemption for the poor.

Insurance market reforms, beginning this year, insurers may not set monetary limits for life insurance or deny coverage to children because of preexisting conditions or cancel policies because someone gets sick. Parents can support their children in their insurance plan until age 26.

Until 2014, when the plan is fully implemented, there will be a high-risk coverage for the sick and uninsured. Insurers may not deny coverage to people with health problems or charging them more. Nor can charge more for women.

Expand the state Medicaid program to care for the poor to cover people with incomes up to 133% of federal poverty level. Adults without children will be covered for the first time since 2014. The Federal Government will pay 100% of the costs of securing new individuals until 2016.

To compensate for lost revenue, the law applies a higher payroll tax for Medicare to investment income and wages. Affects individuals earning more than $ 200.000 a year ...