House Democrats Unveil Health Care Reform Proposal
House Democratic leaders on Tuesday unveiled a health care reform bill that aims to extend coverage to 37 million U.S. residents over 10 years, the Washington Post reports. According to Democratic aides, the bill would ensure that 97% of U.S. residents are insured by 2015 (Montgomery/Connolly, Washington Post, 7/15). The bill would require employers and individuals to get health insurance coverage or pay into a fund (AP/Google.com, 7/14). To help people obtain insurance, the bill would increase Medicaid eligibility and provide tax credits to those with incomes up to 400% of the federal poverty level, or about $43,000 for an individual (Washington Post, 7/15). The bill would establish a government-run public plan option designed to compete with private insurers (Frank, Reuters, 7/14). The bill also includes several provisions designed to slow the growth of Medicare (Pear/Herszenhorn, New York Times, 7/15).The bill does not include total cost figures, and it is unclear whether last-minute changes by its sponsors would satisfy moderate and conservative Democrats who last week refused to support the legislation, according to the AP/Google.com (AP/Google.com, 7/14). The Congressional Budget Office estimated yesterday that the bill would cost $1 trillion over 10 years, though more information is needed before final cost estimates are released. A new surtax on higher-income residents is projected to cover more than half of the bill"s cost over 10 years, with smaller amounts of funding from changes to the corporate tax code, according to the Post (Washington Post, 7/15).
Health Insurance