Unless you’ve been living under a rock the past few weeks, you’ve probably seen on the news all of the heated townhall meetings across the country on the topic of the new healthcare reform bill proposed by the Obama administration. The new healthcare bill is obviously a topic of great debate, and people are going beyond voicing their opinions and they’re getting down right nasty! While most Americans have heard about the new healthcare reform bill, many do not know what it actually entails. Here’s a brief rundown of the new healthcare bill and what it may mean for you and your family.
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At this point, the healthcare bill has been changed several times and is nothing near what President Obama originally proposed. The bill is sure to be modified even further as it makes its way through Congress. A vote on the final bill is expected this fall. If passed, the new healthcare reform bill will go into effect in 2013.

Here are some quick facts about the proposed healthcare bill:

  • The healthcare plan is not actually the one Obama initially proposed. It’s now being called America’s Affordable Health Choices Act of 2009 or simply HR 3200.
  • The bill would require that everyone have healthcare whether you work or not. You would incur penalties in the form of a percentage of your annual earnings if you fail to meet this requirement.
  • Any company making $250,000 or more per year would be required to offer health insurance to all employees. Companies that do not comply would incur a penalty.
  • If you do not work and do not qualify for Medicaid, you are still required to have health insurance, which you can choose from a pool of insurance providers that are regulated by the Health Insurance Exchange.
  • The Public Health Insurance Program proposed in HR 3200 says: Individuals who cannot afford health insurance will receive affordability credits based on their income, and these credits can be used to cover health insurance costs. A person earning 133% per year above the poverty level would need to pay 1.5% per year for their health insurance. A person earning 400% above the poverty level (approximately $43,000/year; $88,000 for a family of four) would pay 11% of their income to health insurance (approximately $4,700/year). Anyone making above 400% would not be eligible for affordability credits and would pay full price for health insurance based on the market.
  • Companies cannot deny anyone with a preexisting condition health coverage.

That’s just a few of the basic facts surrounding the proposed healthcare reform bill – hopefully I didn’t confuse you even more! There are plenty of other details in this bill, but the facts listed above will give a general understanding of the bill, although these are all subject to change as the bill moves through Congress.

What do you think of the new healthcare bill? Please post your comments below. Thanks!

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