While I am still reading the bill, I can say from the 500 pages and some of the summaries I’ve read that this is bad legislation for either side of healthcare reform. The main achievement of the House bill would be a massive expansion of government bureaucracy, and it would severely damage the economy. It would not result in more access to better healthcare.
The plan, as you will see in the details outlined below, is so liberal that it’s difficult to believe it would pass in this form and make it through the Senate. Moderates would be jeopardizing their careers by voting for this legislation that has all the contentious liberal components.
The CBO report has a good basic summary, and Keith Hennessey has a good analysis of how millions of uninsured would be taxed under the House plan (H/T Tevi Troy at the NRO Corner).
Some of the main features include:
- Individual and employer mandates
- Pay or play scheme with taxes levied
- Insurance exchange with public option
- Subsidies for people up to 400% of the poverty line
- Establishment of new committees to oversee the exchange and to set minimum benefits
- Cost sharing limits and restrictions on premium increases
- Income taxes on individuals
And this doesn’t include Medicare and Medicaid reforms.
With consumers being armed with more tools to find and obtain the best care for their needs, this bill would move our healthcare market in the wrong direction by decreasing consumer choice. It would be a disaster, and I will analyze some specifics in coming days to explain why.
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