You can keep the insurance you have if you like it.
The excise tax will result in employers switching to plans with higher co-pays and fewer covered services.
Older, less healthy employees with employer-based health care will be forced to pay much more in out-of-pocket expenses than they do now.
The “excise tax” will encourage employers to reduce the scope of health care benefits, and they will pass the savings on to employees in the form of higher wages.
There is insufficient evidence that employers pass savings from reduced benefits on to employees.
This bill employs nearly every cost control idea available to bring down costs.
This bill does not bring down costs and leaves out nearly every key cost control measure, including:
- Public Option ($25-$110 billion)
- Medicare buy-in
- Drug reimportation ($19 billion)
- Medicare drug price negotiation ($300 billion)
- Shorter pathway to generic biologics ($71 billion)
The bill will require big companies like WalMart to provide insurance for their employees.
The bill was written so that most WalMart employees will qualify for subsidies, and taxpayers will pick up a large portion of the cost of their coverage.
The bill “bends the cost curve” on health care.
The bill ignored proven ways to cut health care costs and still leaves 24 million people uninsured all while slightly raising total annual costs by $234 million in 2019.
“Bends the cost curve” is a misleading and trivial claim, as the US would still spend far more for care than other advanced countries. In 2009, health care costs were 17.3% of GDP. Annual cost of health care in 2019, status quo: $4,670.6 billion (20.8% of GDP) Annual cost of health care in 2019, Senate bill: $4,693.5 billion (20.9% of GDP)
If you have questions about the healthcare reform you can always contact you benefits consultant for more information.