I’m about as frustrated with the pace of health care reform as everyone else (well, except the tea partiers).
But it looks like an end may be in sight, with a vote on the most recent bill coming soon.
One last hurdle has been cleared with the Congressional Budget Office’s report on the cost and savings presented by the new bill.
Over the next ten years, the bill would cost $940 billion.
But here’s the good news: It would cut the federal deficit by $130 billion in the next decade, and $1.2 trillion in the following decade.
Not bad, eh?
So what’s in it for you?
Well, according to those who crunched the numbers (and the good folks at Citizen Action of Wisconsin who passed those numbers on to us) Milwaukee will get some good news:
For example, in Congresswoman Gwen Moore’s district:
- An estimated 52,500 uninsured Milwaukeeans would have access to insurance coverage.
- Up to 192,000 families and 12,300 small businesses would be eligible for subsidies and tax credits, which will allow them to afford insurance coverage.
- A family of four that makes less than $50,000 could get a $5,800 tax credit each year.
- Small businesses would get a 50% tax credit for health insurance coverage.
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- Because the bill would cap out-of-pocket costs at $6,200 (and $12.400 for families) and ends annual and lifetime limits on coverage, an estimated 2,100 medical-related bankruptcies would be avoided in Milwaukee annually.
- An additional 60,000 young folks could be covered by their parents’ insurance policy.
- Since discrimination based on pre-existing conditions would be outlawed, 11,900 Milwaukeeans would be able to get insurance.
- The Medicare Part D donut hole would be closed, so 111,900 would see savings.
- Nineteen community health centers would get additional funds.
- The insurance industry would be reformed as well. Companies would not be able to change coverage for policyholders once they get sick they could not deny coverage to those with pre-existing conditions. Profits and overhead costs would also be limited, so more money would go to providing care, not to stockholders.
