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Health Care "Obamacare"

The Patient Protection and Affordable Care Act
by

John Toffey

on 1 December 2011

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Transcript of Health Care "Obamacare"

Health Care "ObamaCare" By:
Jincy
John
Paras
Angella Health Care Reform a Brief Background Senate Passed the Senate on December 24, 2009, by a filibuster-proof vote of 60 - 39. All Democrats and Independents voted for the bill.
And all Republicans voted against the bill. House of Representative Passed the House of Representatives on March 21, 2010 by a vote of 219 - 212. 219 Democrats voted for the bill.
178 Republicans and 34 Democrats voted against the bill. So what is "ObamaCare" The Patient Protection and Affordable Care Act
(ACA) The law focuses on reforming the private health insurance market Provide better coverage for those with pre-existing conditions

Improve prescription drug coverage in Medicare

Extend the life of the Medicare Trust fund by at least 12 years Consists of 10 separate legislative titles and focuses on several aims What ACA focuses on: When was the ACA Implemented The Act was effective immediately after enactment
All health-related provisions are to take effect over a four-year period
Beginning in 2010 and ending in 2014 Overview of Provision So how did the ACA get passed? How Families Benefit How Young Adults Benefit Young adults can remain on their parent's plan until their 26th birthday Up to 1.2 million young adults could gain coverage through this provision of the ACA How Small Businesses Benefit Up to 4 million small businesses may be eligibile for tax credits
Small employers with fewer than 25 full-time equivalent employees and average annual wages of less than $50,000 that purchase health insurance for employees are eligible for the tax credit Reduce administrative costs and hassle factor for small businesses. How Seniors Benefit Tax Credits State-based small business Health Options (SHOP) Exchanges Starting in 2014, small businesses with up to 100 employees will have access to SHOP Exchanges, which will expand purchasing power
The Congressional Budget Office (CBO) stated that exhanges will reduce costs and increase competitive pressure on insurers, driving down premiums by up to 4% for small businesses Financial Relief Provide tax credits to working families to make sure they can afford quality coverage Ending the "Hidden" Tax on American Families Covers more Americans to reduce cost-shifting that increasese premiums for insured Americans
To pay for the medical costs of the uninsured, medical providers pass these costs on to private insurers, which pass them on to families, increasing family premiums by, on average, about $1,000 a year End insurance Company Discrimination ACA will prohibit insurance companies from denying coverage to all individuals
End discrimination that charges beneficiaries more if they are sick and limit the amount an insurance company can increase an individual's premium simply due to their age Lower Costs for
America's Seniors Save thousands of dollars by closing the medicare "Donut hole" Strengthens the Financial Health of Medicare Invests in fighting waste, fraud, and abuse
Reforms payments to reduce harmful and unnecessary hospital admissions and health care acquired infections
Not a penny of medicare taxes or trust funds will be used for health reform Preventive Care for Better Health Eliminates deductibles, co-payments, and other cost-sharing for preventive care in medicare
Provides free annual wellness check-ups starting ini 2011. Affordable Long-Term Care Creates a voluntary long-term care insurance program, which will provide a cash benefit to help seniors and people with disabilities obtain services and support which would help them to remain in their homes and commmunities Where the money will come from $455 Billion-Medicare budget cuts

$210 Billion–New Medicare taxes for the wealthy 3.8% tax for families with incomes of $250,000 and over, $200,000 for individuals

$107 Billion—New industry fees for drug manufacturers and HMOs

$103 Billion—Various new taxes10% tax on indoor tanning
20% penalty on money taken out of a health savings account and used for non-medical purposes

$65 Billion– Penalties paid by individuals who go without coverage

$32 Billion– New tax on high-cost plans $455 Billion-Medicare budget cuts

$210 Billion - –New Medicare taxes for the wealthy
3.8% tax for families with incomes of $250,000 and over, $200,000 for individuals.

$107 Billion— - New industry fees
for drug manufacturers and HMOs


$103 Billion— - Various new taxes
10% tax on indoor tanning
20% penalty on money taken out of a health savings account and used for non-medical purposes

$65 Billion– Penalties paid by individuals who go without coverage

$32 Billion– New tax on high-cost plans The Congressional Budget Office A non-partisan agency that reviews congressional budgets and other legislative initiatives Estimates... The net cost for the health care bill will total 1.1 trillion dollars during 2012 to 2021 This bill is also estimated to reduce the federal deficit by 143 billion dollars Technology •



• Will potentially affect technology by introducing methods of higher standards and innovative technology leaving out physicians that cannot provide these kinds of standards to the public. Federal Supplementary Medical Insurance Trust Fund (FSMI)
FSMI would require documentation based on health quality and use of health care services provided by the program Insurance policies would be able to apply the same costs to everyone facilitating the filing of costs and avoiding unpaid dues The bill disregarded all of the unnecessary money that could be spent if the patients did not follow treatment causing huge debts Major Politics What are your thoughts on ObamaCare?
Are you for it or against it? During health care reform Republicans were against the whole idea of the ACA bill Majority of the Democrats were for the bill. Eliminates deductibles, co-payments, and other cost-sharing for preventive care in medicare
Provides free annual wellness check-ups starting in 2011
Full transcript