What does the healthcare bill mean to me? Plus, worry about extension of Bush tax cuts.

[flpoljunkie]

Luke Russert was just on MSNBC's Morning Joe reporting from Ohio. He said people there do not understand the healthcare bill and are also worried if, and when, their income taxes may go up. Apparently, President Obama and the Dems have a lot of work to do to inform the masses. As for the extension of the Bush tax cuts, the only people who need be concerned are those individuals making over $200,000 and joint filers making over $250,000--about 2% of tax filers. Although, do not be surprised if cowardly Dems cave and extend the Bush tax cuts for everyone for at least one year--perhaps Mark Zandi's plan which will raise the rates on the top 2% gradually after 2011.

Here's a handy tool from the Washington Post to help understand what the healthcare bill means to individuals.

What does the health care bill mean to me?

The health-care overhaul will change the way millions of Americans get health insurance and require nearly everyone to have health insurance or face penalties. A number of factors - including income, age, location and family size - will determine how it specifically impacts your life. This tool estimates what it could mean for your health coverage and taxes based on your income, family size and current insurance status.

http://www.washingtonpost.com/wp-srv/special/politics/what-health-bill-means-for-you/?sid=ST2010032201830

[zipplewrath]

1. Dangerous tool

I put in my info and got the result I expected. HCR didn't do a damn thing for me. I suspect that will be the majority response. Yes, I'm not going to be paying any new taxes. I'm going to get the same health insurance I've always had. There will be no change to my health insurance due to this bill.

But the converse is true, and it is what alot of folks have been concerned about for a decade or more. The cost constantly goes up. Choices continue to get reduced. And more and more every year we continue to "work for our health care benefits". I can't tell you the number of folks "afraid to retire" because of the potential cost impact of health insurance.

This is a conclusion that may get alot of folks to start asking "what was the BFD?".

[flpoljunkie]

2. What a glaring loophole! LAT: Healthcare Overhaul Won't Stop Premium Increases

A very big and unacceptable loophole. Bill were introduced on March 4, 2010, and sit in committee. Feinstein introduced the companion bill in the Senate.

H.R.4757
Title: Health Insurance Rate Authority Act of 2010
Sponsor: Rep Schakowsky, Janice D. (introduced 3/4/2010) Cosponsors (27)
Related Bills: S.3078
Latest Major Action: 3/4/2010 Referred to House committee. Status: Referred to the House Committee on Energy and Commerce.

Healthcare overhaul won't stop premium increases

The new law doesn't prevent rate hikes such as Anthem Blue Cross' double-digit increase last year. 'It is a very big loophole,' says Sen. Dianne Feinstein, who is pushing regulatory legislation.

April 13, 2010
By Noam N. Levey

Reporting from Washington — Public outrage over double-digit rate hikes for health insurance may have helped push President Obama's healthcare overhaul across the finish line, but the new law does not give regulators the power to block similar increases in the future.

And now, with some major companies already moving to boost premiums and others poised to follow suit, millions of Americans may feel an unexpected jolt in the pocketbook.

Although Democrats promised greater consumer protection, the overhaul does not give the federal government broad regulatory power to prevent increases.

Many state governments -- which traditionally had responsibility for regulating insurance companies -- also do not have such authority. And several that do are now being sued by insurance companies.

"It is a very big loophole in health reform," Sen. Dianne Feinstein (D-Calif.) said. Feinstein and Rep. Jan Schakowsky (D-Ill.) are pushing legislation to expand federal and state authority to prevent insurance companies from boosting rates excessively.

At least in the short term, regulators will be able to do little more than require insurers to publicly explain why they want to raise rates. Consumer advocates think that will not be an effective deterrent against premium increases such as the 39% hike that Anthem Blue Cross sent some California customers last year.

more...

http://articles.latimes.com/2010/apr/13/nation/la-na-health-premiums13-2010apr13