Health care bill leaves future uncertain
The Health Care Bill has passed through Congress and signed by President Barack Obama, which leaves local insurance providers curious about what the future may hold.
The bill will require individuals to buy insurance plans and large employers need to provide employees with health benefits. If the employer does not observe this guideline, repercussions may be enforced.
For those who do not receive health insurance at work, a state-based insurance system will be set up. Commercial insurers will be able to participate in this market by offering coverage plans or exchange.
However, many local insurers were unsure of what this could mean for their company after the bill was passed.
“I’m sure very few people have read the bill entirely, no one is completely sure on what will happen,” said Dick Butler from Dick Butler & Assoc. in Mattoon.
According to the bill, Medicaid will be available to a larger percentage of the population, by allowing individuals who have a salary of $14,404 or less to participate as well as families of four who have a total income of $29,327 or less.
The bill also sets aside $500 billion in subsidies to help low and moderate income families pay for insurance over the next decade.
After the president signed the Health Care bill, a reconciliation amendment – Amendment of the Nature of a Substitute HR4872 – was addressed, which adjusts elements of recently approved bills.
“The reconciliation act does two things; it improves the health care reform bill the President signed, but it also makes a huge change to the student loan program,” said Kristina Mulka, an aid for Sen. Richard Durbin (D-Ill.)
The health care portion of the amendment will eliminate an excise tax – a tax that is measured by the amount of business done – on the more expensive health care providers until 2018, among other changes.
“With the reconciliation bill, it will be passed back and forth between the Senate and the House, and until everything is finalized, no one really knows what will happen.”
There have been changes to the reconciliation bill, and it must be sent back to the House to be voted on again, Mulka said.
“Hopefully the reconciliation bill will be passed within a day,” Mulka said.
Kayleigh Zyskowski can be reached at 581-7942
