Raising Women’s Voices

Obama’s Health-Care Plan: What’s in Store for the Nation?

Posted in Uncategorized by raisingwomensvoices on November 6, 2008
By Kate Stinchfield

Almost two years of campaign promises are finally over. Now that Barack Obama has been declared the president-elect, it may be time to take a step back and see just what that could mean when it comes to your health. About 66% of voters said that concerns about affordable health care influenced their choice in the 2008 election.

The Commonwealth Fund has compiled a list of health-care reform proposals that Obama announced during his campaign. But given the ongoing financial crisis—not to mention political hurdles—will they actually happen? It’s hard to say at this point. But here’s a look at what the president-elect has promised.

Requirements for coverage
All children would be required to have health insurance. Obama would consider an individual requirement for adults if substantial numbers of people do not buy coverage that is deemed affordable.

Tax credits/subsidies
Individuals and families who do not qualify for Medicaid or the State Children’s Health Insurance Program (SCHIP) but still need assistance to purchase a health plan would receive income-related federal subsidies aimed at keeping health-insurance premiums affordable. Subsidies can be used to buy into the new public plan or purchase a private one. Small businesses would receive a Small Business Health Tax Credit, a refundable tax credit of up to 50% of premiums, which could be used to buy coverage for their employees.

Financing
Obama would finance the new system by allowing the expiration of tax cuts for households with incomes of $250,000 and above. He would also use revenue from employer contributions.

Prescription drugs
The proposal calls for the federal government to negotiate directly with pharmaceutical companies under the Medicare prescription drug benefit. U.S. residents would be allowed to purchase medication from Canada and other developing countries, if the drugs are safe and the prices are lower. Obama’s strategy would increase use of generic drugs in the new public plan, Medicare, Medicaid, and the Federal Employees Health Benefits Program (FEHBP), and prohibit large drug companies from keeping generic drugs out of the marketplace……

For the Complete Article, Please Visit: http://news.health.com/2008/11/05/obamas-health-care-plan-whats-in-store-for-the-nation/

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