Health Care Vote Results Passes and President Obama plans to sign into Law this Tuesday

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[Best Syndication News] The long debated health care reform has been approved by the legislative branches over the weekend. The final signing into law will be completed on Tuesday by President Obama. This legislation has many of the features not going into effect until 2014.

The legislation will force individuals and businesses larger than 50 employees, to purchase health insurance or be faced with a penalty. If you are low-income you won't have to pay. If you have an employer that already provides health insurance and you make less than $200,000 per year you won't see any big changes in your current situation.

The health care bill is estimated to cost $938 billion and will be paid for by tax increases on wealthy along with cuts in Medicare. There will be 32 million Americans the will be able to get health insurance coverage that would have be denied insurance because of pre-existing conditions.

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Beginning this year the health insurance companies will not be able to deny children from pre-existing conditions, adults will have to wait until 2014 and will have to be part of a “high risk pool.” The health insurance companies can no longer have a lifetime maximum cap for peoples plans. The health insurance company will no longer be able to drop a person's health insurance coverage if they become sick.

There will be an initial creation of "high risk pools" in the next three months, until they work out the details for people that do have pre-existing conditions.

Parents of college students will be able to keep them on their insurance plan until the age of 26.

Medicare Prescription drug coverage will aim to remove the "doughnut hole" completely by the year 2020.

Higher taxes will be applied to businesses related to the medical industry including, insurance companies, pharmaceutical companies, and medical device manufacturers.

Medicaid will be expanded to more families with a family of four with an income of $29,327 would become eligible for Medicaid in 2014. Those without children would also be able to get Medicaid so long as their income qualifies.

The healthcare bill text is at

and also at:



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