What does the new law do?
Reprinted from Spreading Political Truth
1. Stop companies from denying coverage to people with pre-existing conditions
2. Control premium hikes to avoid massive spikes in your healthcare costs
3. If you have health insurance through your employer and you like your plan, you can keep it.
4. If you’re uninsured, you could receive a tax credit to help pay for coverage if needed — part of the largest middle class tax cut for health care in history.
5. If you have Medicare, the President’s plan guarantees that your benefits will not be cut, and the Medicare Trust Fund will be extended for more than 9 years.
6. If you buy your own insurance, there will be new protections from insurance company abuses, and tax credits will make coverage more affordable.
7. If you’re a small business owner, you’ll receive new tax credits that make it easier for you to provide coverage for employees if you choose to do so.
The Congressional Budget Office (CBO) estimates that the plan would reduce the federal deficit by $100 billion over the next 10 years — and even more over the second decade — by cutting spending and reining in waste and fraud.
Lastly under this plan, Hospitals stay private, insurance companies stay private, Doctors stay private, etc. There is no “government takeover” of healthcare, only regulations to control costs and prevent insurance company abuse.