Obama and Healthcare

This is a topic that has caused an interesting and devisive debate.  I personally haven’t met anyone that it is in the middle, they are either for or against.  Let me rephase that – I haven’t come across anyone that is against providing healthcare to everyone.  The debate is how that healthcare is provided.

I understand healthcare, how it works and what it means to business owners and employees.  In listening to President Obama’s speech to a joint session of Congress.  I thought it would be a good idea to provide an unbiased (of politics, commentary, or my own thoughts) summary of what the President is proposing, I will leave it up to you to decide how you feel about the plan based on what was proposed during the speech.  Here it is by topic.

Goal:

• Provide security and stability to those who have insurance
• Provide insurance to those who don’t have it
• Slowdown the increasing costs of  healthcare 

Plan:

• If you have health insurance (through employer, medicare, medicaide, VA, etc) – no change
• Illegal for insurance companies to deny coverage due to a pre-existing condition
• Illegal for insurance companies to drop coverage or reduce benefits once diagnosed with an illness
• No cap on yearly or lifetime coverage
• Limit on out-of-pocket expenses one person will pay
• Required to cover routine check-ups and preventative care at no additional costs

If you don’t have insurance:

• If you lose or change jobs will be able to get coverage
• If you start your own business will be able to get coverage
• Create insurance exchange where one can shop for insurance at a competative prices (available in 4 years)
• If can not afford insurance through exchange, can be eligible for tax credits based on need
• Until Exchange is available – government to offer low cost coverage if you become ill
• Individuals will be required to carry basic health insurance (similiar to auto insurance)
• Businesses will have to offer health care or help employees pay for theirs
• Hardship waivers will be available for individuals and some small businesses

Rumors heard in the media that are untrue:

• Death panels
• Would insure illegal immigrants
• Federal dollars would fund abortion
• Government will take over heatlh insurance industry

The Public Option:

• An option to be included in the Insurance Exchange
• To be managed by a non-profit
• Would be self-sufficient (premiums would pay for the program)
• Estimated only 5% of population would take this

To hear or read the entire speech check out the speech on http://www.whitehouse.gov or click here –>http://bit.ly/PAKRZ

Would love to hear your feedback and thoughts – let the debate begin 🙂