This Week in Health Care Reform
After weeks of logjam on Capitol Hill, lawmakers in both the House and the Senate have reported progress in their respective negotiations this week, clearing way for a achievable vote on sweeping health concern reform legislation after the August recess. To support you make sense of the numerous reform plans and plan details, review the attached chart.
Public Plan
House Democrats Reach Compromise: After weeks of infighting, House Democrats on the Energy and Commerce Committee came to an agreement on Wednesday that would shave $100 billion off the House bill's first price tag of more than $1 trillion. The Energy and Commerce Committee resumed marking up the legislation Thursday, but the entire House'll not vote until after the August recess.
Congressional Budget Office (CBO) on House Plan: The CBO helped the House Democrats' case for a public option when it reported that under the proposed legislation , most people would still select employer-based coverage rather than a government-run option. The CBO stated that, given the individual mandate, more employees would sign up for coverage through their employers. However, the latest analysis stated that the proposal would still increase budget deficits.
Senate May Choose Co-Op Over Public Option: Senate Finance Committee negotiators indicated that they were close to reaching a bipartisan deal that would include a co-op modeled public plan. The proposal being discussed would include a tax on insurers and would use non-profit cooperatives to compete with private insurers. The proposal would also not include an employer mandate.
Alternative Plans
House Republicans Unveil $700B Plan: On Wednesday, House Republicans unveiled a $700 billion health care plan that would offer tax deductions and credits to assist individuals in purchasing insurance, as well as take on medical malpractice. According to House Republicans, the proposed plan would be fully paid for, but CBO has yet to officially assess the cost of the legislation.
Financing the Plan
New CBO Score on Senate Bill: The Senate Finance Committee got a boost when the CBO estimated the latest version of the Committee's health reform bill would cost less than $900 billion. The bill would cover 95 percent of Americans by 2015 and would be fully paid for in the first 10 years, according to Finance Chairman Max Baucus (D-MT).
Tax on "Cadillac Plans" Gains Momentum:The Senate Finance Committee's option to tax insurers on high-value "Cadillac plans" has attracted support in the Senate, and it seems senior House Democrats are warming to the financing proposal. A spokesperson for America's Health Insurance Plans voiced opposition to the plan, and numerous assert that a tax on insurers will ultimately be passed down to consumers.
CBO Rates Independent Panel: CBO reported this week that the proposed independent panel to oversee payments by Medicare would result in just $2 billion in savings over 10 years.
Additional Activities
AARP Voices Concern: President Obama held a town hall-style meeting at the American Association for Retired Persons (AARP) Washington headquarters this past week to address growing concerns among seniors about health reform and subsequent cuts in benefits. Polls show that senior citizens are more skeptical about health care reform than any different age group. Consequentially, AARP has had to walk a careful line in endorsing the House bill. Earlier this week, AARP expressed disappointment in the lack of progress in the Senate, saying that Senators have "failed to act."
Looking Ahead
House lawmakers plan to conclude work this week and break for a month-long recess, returning to their districts to further discuss health reform efforts. The Senate will recess on August 7th.
Health Insurance Quote Reform : EasyToInsureME...
Labels: rich_rich |
Saving Money with Health Insurance...
Labels: rich_rich |Everyone likes to save money as well as your health insurance is a place where you able to find savings. The easiest way to save money with health insurance is to only insure yourself for large, catastrophic medical problems or to increase your deductible in order to decrease your monthly premium. Both of these choices may not be the best health insurance option for everyone due to each will increase your out-of-pocket medical expenses for everyday medical care and preventative examinations.
There are a number of tips to keep in mind beyond increasing your out-of-pocket expenses to minimize your health insurance costs while receiving the health insurance coverage you and your family needs.
Here are six things to consider for saving money through your health insurance:
1) If you are part of a health insurance plan such as a POS (point-of-service) or PPO (preferred provider organization), make sure you only use doctors and medical services that are in-network for your plan.
2) Take every tax deduction offered on health insurance. For the self-employed this means deducting all your health insurance premiums, and for participants in employer-based plans deducting the portion you pay of your health insurance premiums. And medical and dental expenses you incur that your insurance doesn't cover that exceed 7.5 percent of your adjusted gross income (AGI) could be deducted as well.
3) When you are comparing health insurance quotes take a look at the long-term implications of your plan. Lower health insurance premiums and up-front costs will mean more out-of-pocket expenses and possibly much higher medical costs over the long run. Consider how you expect to use your health insurance and factor all the costs when comparing health insurance quotes.
4) Don't make visits to the emergency room unless you are experiencing an actual medical emergency. The co-pay will likely be very much higher than for a regular office visit.
5) If achievable participate in employer- or different organization-based group health insurance. The rates and qualification requirements are typically lower. If you are part of a employer-based group health insurance plan have your employer pay the premium on a pre-tax basis to lower your overall taxable gross pay. Another way to decrease your taxable income is to participate in your employer's flexible spending plan to save money for out-of-pocket health insurance expenses such as co-pays, many drugs and a little of medical devices.
6) Save money on health insurance prescription medication by using online pharmacies. Traditional pharmacies will typically dispense only a 30-day supply of medicine while online pharmacies will allow for 90-day supplies for the same co-pay.