Obama is In: What about Universal Health Insurance?
Barack Obama, our new President-elect, used an ambitious health care reformation plan as an important part of his running campaign. The core of the plan is intended to provide insurance for a big chunk of the 46 million Americans who don’t have it.
So congratulations, Mr. President – and just how soon are we likely to see any changes in health care?
Obama’s Health Insurance Plan
Obama’s universal health care plan is certainly ambitious, aiming to provide insurance for millions of uninsured Americans, and to cut health care spending at the same time.
What are the finer points of this plan?
- Health insurance will be mandatory for all children. Adults will obtain insurance either privately or through a federal program.
- The creation of a National Health Insurance Exchange will make it easier for people to buy insurance. The exchange will be partially funded by a tax imposed on employers who don’t provide health insurance plans for employees.
- Small businesses will get a tax credit to help them pay for employee health plans.
- Medicaid and the State Children’s Health Insurance Program (SCHIP) will be expanded to cover more people.
- Children will be able to stay on their parents’ health plans till they reach 25.
- Insurers will not be able to deny coverage due to pre-existing conditions.
- Improved access to preventative and chronic condition health care.
- $50 billion will be spent on the development of an electronic administration and records system.
The Problem Obama’s Health Insurance Plan
Sounds great – but it also sounds expensive. A consulting firm called the Lewin Group has estimated that this proposal could cost up to $1.17 trillion between 2010 and 2019. Where’s the money coming from – and is there enough federal money to go round, considering the current economic crisis?
The economy is in tatters, and our new President-elect has inherited a whole host of problems, leaving him with the difficult decision of which to tackle first. We’ve already heard that getting the economy back on track will be the new administration’s first priority – but where does that leave health care?
According to a CNN interview which took place just a few days before the election, it’s in third place: behind economic recovery and renewable energy. At this point, it’s just a question of whether the new administration plans to be cautious in tackling all of these issues – one at a time, or all at once? Congressional leaders hope to pass the SCHIP expansion as early as January, and that’s a big step towards implementing at least a portion of the much-needed health care changes. As for the others? Only time will tell.
Related Post:
Health Care: John McCain vs. Barack Obama
photo credit: amy_b
