Thursday, November 19, 2009

Senate Health Reform Specifics for the Listless

November 19 – In case you’re wondering about the specifics of the new and final version of the Senate health care bill and you’re feeling listless, here are some specifics.

Final Provisions

•A government-run insurance program similar to Medicare that would compete with private insurers. Individual states could opt out of offering the public plan, and the government would negotiate, rather than dictate, how much to pay for medical services.

•Prohibitions against using taxpayer money to pay for abortions. Insurance companies would be required to segregate private premium money from government subsidies and to use only private money to pay for abortions. The same rule would apply to the public option.

•A half-percentage-point increase in the Medicare payroll tax for individuals who earn more than $200,000 and couples who take in more than $250,000 a year. Insurance plans that exceed $8,500 for individuals and $23,000 for couples would be taxed 40%, and elective cosmetic surgeries would be taxed 5%.

Final Numbers

•Companies with more than 50 workers that do not offer insurance would pay $750 for each employee that receives a government subsidy for insurance.

. The bill would cost $849 billion over the next decade, according to the Congressional Budget Office, putting it under Obama’s $900 billion target ceiling for the overhaul.

' The federal budget deficit would be cut by $127 billion over the decade, according to a congressional aide, and reduce the deficit by a $650 billion in the second 10 years after adoption.

' Some 31 million uninsured people would get coverage, raising covered Americans to 94%, according to CBO projections cited by an aide

New Taxes

• Tax on high-end health insurance plans: $149.1 billion

• Capping flexible spending accounts at $2,500: $14.6 billion

• Fees for drug makers: $22.2 billion

• Fees for medical device makers: $19.3 billion

• Fees for health insurance companies: $60.4 billion

• Higher floor for deducting medical expenses: $15.2 billion

• Higher payroll tax for top earners: $53.8 billion

• Tax on cosmetic surgery: $5.8 billion

Sources: USA Today,Wall Street Journal Health Blog

There you have it – Everything you wanted to know, but had no list for.

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