November 06, 2009
US House approves $1-trillion healthcare overhaul
by Matthew Dennis
The US House voted 220-215 in favour of new healthcare legislation designed to provide health insurance to an additional 36 million Americans at a cost of more than $1 trillion over a decade. Among other stipulations, the bill calls for a new public insurance plan to compete with private insurers by 2013, and a marketplace where people can obtain federal subsidies to purchase insurance.
The measure will include new rules preventing insurers from denying coverage to people with preexisting conditions, placing limits on coverage or stopping coverage when people become ill. As part of the proposed legislation, seniors would immediately receive discounts on prescription drugs, and the gap in Medicare drug coverage would be closed entirely by 2019.
The Congressional Budget Office estimates that under the bill, 96 percent of legal residents in the US would have health insurance by 2019, up from 83 percent currently. The expanded healthcare coverage is expected to be paid for by cuts to Medicare's budget and the imposition of new taxes. The bill also suggests that the independent Institute of Medicine should make recommendations on how to alter the Medicare payment system and calls for Medicare to negotiate prices for drugs, in an effort to address rising costs.
The Senate is expected to discuss a similar healthcare bill.
Reference Articles
|
