[Politics Warning] Can someone please explain...?

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blayzer13
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[Politics Warning] Can someone please explain...?

Post by blayzer13 »

So the health reform passed, I keep getting confused as to what exactly is getting changed. Could this perhaps be explained in English please? lol
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RascalJones
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Re: [Politics Warning] Can someone please explain...?

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blayzer13
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Re: [Politics Warning] Can someone please explain...?

Post by blayzer13 »

Seems that the only thing that applies to me at the moment is the fact that I will be insured until 26 no matter what.
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Re: [Politics Warning] Can someone please explain...?

Post by Soccerman771 »

TL DR

/s/

Your congressman.

Hint - they don't know what they voted for or against either, but they do know they did it to something "important"!!
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IndyBrit
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Re: [Politics Warning] Can someone please explain...?

Post by IndyBrit »

There are 1,000,000 little parts that are not known to anyone yet (e.g. 10% tanning bed tax??). Here are the main themes:

1) Health insurance will be mandated for purchase by all (circa 2013) or a $700-ish per person per year tax will be imposed
2) Businesses over 50 will have to buy health insurance for all employees (around $2000 per employee penalty) (also circa 2013 I think)
3) No one can be denied coverage (circa 2014??)
4) The ratio of highest to lowest premium will be capped regardless of risk category (2:1 I think)
5) Until 3 happens, States will receive some kind of subsidy to create a high risk pool of people (which is already in place in almost all states, this is not really much of an addition but perhaps federal subsidy makes a difference)
6) All health care plans will be subjected to minimum coverage requirements (the outer bounds of current HSA plans will be clipped a bit by the deductible caps)
7) FSA contributions will be capped at $2500 (this is relatively low compared to today)
8) States will be required to create risk pools that individuals and small businesses can buy into at relatively low rates compared to today
9) If you are of very low income, the States will be required to carry you under Medicare (unlike today, they may automatically enroll you without you applying - but I can't remember if this made it into the final bill)
10) If you are above very low income, up to around an average income you will receive a direct federal subsidy on buying health insurance

The exact dates and terms of these provisions are not available off the top of my head. Further, there are many many small pieces to this bill that are not even touched on above, and many of which are not even related to health care. However, the above is the gist of the thing, and it will not be fully implemented until 2014 or so.

Hope that helps.
Cheers,
Indy
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Re: [Politics Warning] Can someone please explain...?

Post by GeneralMichael »

As I started reading this I could only help but think about some saying that I forget where I heard it. The jist is that there are 3 ways people spend money
1.They spend thier own money
2.They spend other people's money
3.The government spends the money for them
the quote then goes to say that #1 is most efficient since poeple don't like to waste money. #2 is slighly less efficient and #3 is the least efficient

Ohh and of course all of this will then be in effect just when I start to get a job and earn enough money to be taxed, since right now, I earn less than $3,000 per year so no taxes : )
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