How Will Amendment To Health Care Reform Help Middle Class and Medicare Recipients?

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Health Care and Education Reconciliation Act
March 30th 2010

(Best Syndication News) Not all of the amendments and riders to the Patient Protection and Affordable Care Act were passed and signed by the President last week. President Barack Obama signed the rest of the bill today at the Northern Virginia Community College. There were various provisions in this amendment concerning student loans, health insurance and Medicare.

The bill is expected to help the middle class by increasing the tax credit to buy insurance. Besides lowering taxes, the bill will lower the penalty for not buying health insurance from $750 to $695. It will also help close the donut hole in the Medicare Part-D prescription program.

  	 Think You Can't Afford Quality Health Insuranc

The bill is expected to help the elderly by requiring Medicare to reimburse doctors at the full rate. It will also create a Medicare Tax on families earning more than $250,000 ($200,000 for individuals). Peter Grier with the Christian Science Monitor says the Medicare Part A (hospital insurance) rate would be “increased by 0.9 percent, to 2.35 percent. Second, the bill creates an entirely new tax of 3.8 percent on unearned income (dividends, interest, stuff like that) for people in those same income brackets.”

The relatively conservative Congressional Budget office estimates that the law will decrease the budget by $138 billion over the next ten years (through 2019).

A former John McCain advisor, Douglas Holtz-Eakin, said the bill will increase the deficit by $562 billion. There are tax cuts / credits in the bill which could increase the deficit.

The Administration says that saving money is important but the bill does other things to Medicare recipients. “Reforming the health care system does not end at expanding coverage and making sure that it is paid for; we also must address the underlying problems in our health care system that impede quality improvements and raise costs,” the Whitehouse said in a statement.

By: Tom Madison



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