What does health care reform include … REALLY?
March 26, 2010
As we continue to receive news on the new health care legislation, we will update you. The following hopefully adds some clarification to some of the public’s questions.
Confusing doesn’t even begin to describe it. Throughout the very long debate over health care reform, a great deal of misinformation (spurred by presumption or misunderstanding) was circulating. Additionally, many changes and alterations to the proposed law were made along the way. At this point, some of the arguments your friends, neighbors or co-workers continue to debate don’t even factor into the legislation signed by President Obama. So what’s the truth behind the Affordable Health Care for America Act?
Q: Will I be forced to change insurance?
Q: Will illegal immigrants now be covered by our money?
Q: Will I go to jail or be harassed by the IRS if I don’t have health coverage?
Q: I heard there was going to be a 10% tax increase across the board. Is that true? · A 10% sales tax on indoor tanning (yes, really) · A 0.9% increase on the Medicare tax rate · A 3.8% tax on investment income for individuals earning more than $200,000 and households earning more than $250,000 5
· Taxes on high-end or “Cadillac” health care plans (this excise tax would not begin until 2018 and only apply to insurers of plans that exceed $10,200 annually for individual coverage, or $27,500 annually for family coverage) 6
Q: Will the government now pay for abortions?
Q: Will I have to pay for other people’s abortions?
Q: Does the “Public Option” mean the government will run health care?
Q: Will my Medicare benefits be cut in order to extend care to others?
Q: Does this mean that “death panels” are now a reality?
For more answers, you can visit www.whitehouse.gov/healthreform
As always, please call our office with any questions. We wish everyone a very Happy Easter! Sincerely, Edward J. Kohlhepp, CFP®, ChFC, CLU, CPC, MSPA Edward J. Kohlhepp, Jr., CFP®, MBA
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Citations
1 - cnn.com/2010/POLITICS/03/23/health.care.timeline/index.html?hpt=T1 [3/23/10] 2 - signonsandiego.com/news/2010/mar/23/health-care-myths-realities [3/23/10] 3 - poder360.com/article_detail.php?id_article=3994 [3/24/10] 4 - insurancenewsnet.com/article.aspx?id=174568 [3/24/10] 5 - americasnewsonline.com/healthcare-bill-does-very-little-to-hinder-health-insurance-companies-903/ [3/24/10] 6 - americasnewsonlineboston.com/business/personalfinance/managingyourmoney/archives/2010/03/tax_implication [3/24/10] 7 - theglobeandmail.com/news/world/no-death-panels-but-obamas-reforms-do-bring-change/article1508653 [3/22/10]
8 - timesfreepress.com/news/2010/mar/24/medicare-changes-misrepresented-advocates-say [3/24/10]
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