House Releases Health Care Reform Package
October 30, 2009
On Thursday, October 29, Speaker of the House, Nancy Pelosi (D-Calif.), released the House’s merged health care bill: H.R. 3962, “Affordable Health Care for America Act.”
According to a preliminary score from the Congressional Budget Office, the bill would cover an additional 36 million Americans and cost approximately $1 trillion dollars over the next decade – while cutting the federal deficit by $104 billion. The $1 trillion cost is offset by $740 billion in new taxes and revenue and $426 billion in cuts in spending, largely in Medicare. Democratic leaders agreed to a public insurance option using negotiated rates rather than tying rates to Medicare.
Additionally, the House bill would:
Create an insurance market exchange, with a minimum benefit package, where individuals and small businesses could purchase coverage
Mandate that most Americans carry health insurance and that most employers provide coverage to their workers
Eliminate the “donut hole” for Medicare drug insurance by 2019
Include an expansion of Medicaid to cover anyone with an income up to 150 percent of the poverty level
Authorize insurance policies to be sold across state lines,
and allow children to remain on their parent's insurance plans until age 27
House leaders posted the package online Tuesday, November 2. House Democrats are planning for a final vote on Saturday, November 7.
Republicans introduced their version of health care reform on Tuesday, November 2.
