Posts Tagged ‘senate bill’

Healthcare Reform Update – March 2010

Wednesday, March 24th, 2010

The House passed the Senate’s Healthcare Reform Bill (see below for highlights) on Sunday, and the President signed it into law on Monday. The House then passed a companion bill that would bring changes to the Senate bill.  Some of these changes include:

More subsidies for lower income individuals and families to help purchase health insurance.
A push back from 2014 to 2018 on the tax to be imposed on expensive “Cadillac” health insurance plans; the premium level establishing a plan as a “Cadillac” plan has been increased, as well.

The slow reduction of the Medicare Prescription Drug benefit “donut hole” beginning this year; seniors who hit this gap in 2010 would receive $250 to offset costs.

A cut of $200 billion in subsidies that go to insurers who offer private alternatives to Medicare.

An increase in Medicaid payments to doctors to align with Medicare rates to help ensure there will be enough doctors to handle the newly insured.

An increase to the Medicare tax for individuals earning over $200,000 and couples earning over $250,000 annually. This tax would also apply to investment earnings such as dividends.

Removal of the, “Cornhusker Kickback” provision that has angered many.

An additional tax for taxpayers with adjusted income more than $200,000 ($250,000 for joint filers) of 3.8% tax on net investment income (such as interest, dividends, capital gains).