Florida Health Insurance Group Reports Baucus Bill

Members of the House and Congress are still trying to come up with a feasible health insurance reform for the United States.  It looks like The Baucus Plan with a price tag of nearly one trillion dollars over the course of 10 years is getting the closest look.  Many severely liberal Democrats on Capitol Hill are letting main stream media know they are not happy without the public option not being offered in the plan, while most Republican’s are pushing for less government control of health care, and will not support the current bill as it stands.    

Florida health insurance web is a health insurance consulting group that offers insurance quotes, news, and other financial services for Floridians.  “We are still reviewing The Baucus Plan to see if politicians really have a hold on how our current system works.  I’m still not convinced that cutting $500 billion of Medicare payments t to hospitals and other providers to pay for this bill is really being honest with the general public.  Individuals need to understand that if Obama cuts Medicare payments to hospitals and they end up losing 40% of their revenue.  What do you think hospital CEO’s across America going to do?  They are most likely going to raise the prices to the public and private entities that are now paying the lion share.  Sounds like a cost shift to me”, noted Morgan Moran, of Florida health insurance web. 

What will The Baucus Plan consist of?  The bill will add nearly one trillion dollars to the national deficit.  It reaches the largest depths of health insurance reform including; payment system changes, mandates that require all U.S. citizens obtain insurance, and implements a new Federal premium rating system.  It does not include the very contentious government program called the public option.  It does in fact call for other local cooperatives that will offer competition for the private health insurance carriers. 

HEALTH INSURANCE REFORM DETAILS

·         Will offer state exchanges where individuals, families, and small business owners can search for products.

·         Have four basic categories for plans offered through the exchange.

·         When the bill possibly becomes law for 2013, health insurance carriers will not be able to decline you due to pre-excising conditions.  Limited-benefit plans will no longer be offered.  Life time maximums will become unlimited.

·         All plans through the health exchange can be purchased across state lines.  Everything will be streamlined for the new national programs. 

HOW CAN WE PAY FOR IT?

·         A proposed excise tax of 35 percent would be paid for by insurance companies that offer the Cadillac programs.  This tax would  apply to the fully insured group health insurance market and also to the self insured marketplace

·         All health insurance carriers would pay a total annual fee of nearly $6 billion starting in year 2010.   The fee would be assessed based on the percentage of market share.  

·         The big drug companies would pay an annual fee of $2.3 billion based on percentage of market share. 

·         Cut Medicare payments by nearly $500 billion.

Many Americans are ready for a balanced health care reform bill.  The media has helped skew many people into taking sides rather than having a common sense debate.  It most likely depends on where you get your news today.  “Many groups stand to lose billions if this reform passes, and members of Congress, both Democrat and Republicans, who have very strong lobbyist groups on both sides of the fence, are doing everything they can to either pass or block the health insurance reform “, said Moran. 

To learn more about health insurance reform and the changes in store for Florida’s residents with the new Baucus Bill, please visit us at: Florida health insurance web. http://www.floridahealthinsuranceweb.com/.  We are Florida’s number one resource for insurance quotes, news, and financial services online.