Amazing day today!
Beautiful day here in Santa Clara, sunny and breezy with a temp of 65 degrees. Went out with some guys from the law school to play soccer and scored the game winner (not that impressive of a goal but I’ll take it). And healthcare reform bill passed! Monumental vote but it is a bit tricky so I will break it down.
What happened was that the House passed the bill the Senate approved back in December. Therefore, as it stands now there is healthcare reform that can head to Obama’s desk. Right after that vote, they voted on a reconciliation package that amends the Senate bill both houses just passed. This amendment/reconciliation package now needs Senate approval. The trick is that now it only needs a simple majority of 51 votes, which the Democrats have in the Senate. The Republican senators were blocking the passage of a bill with their filibuster but reconciliation packages are virtually not allowed to be filibustered so only 51 votes are needed instead of 60.
There is a lot of the bill that needs to be read but I generally know what will happen this year:
- Insurance companies will be barred from dropping people from coverage when they get sick. Lifetime coverage limits will be eliminated and annual limits are to be restricted.
- Insurers will be barred from excluding children for coverage because of pre-existing conditions.
- Young adults will be able to stay on their parents' health plans until the age of 26. Many health plans currently drop dependents from coverage when they turn 19 or finish college. (VERY excited about this one but hoping that applies to me since I have technically already been dropped)
- Uninsured adults with a pre-existing conditions will be able to obtain health coverage through a new program that will expire once new insurance exchanges begin operating in 2014.
- A temporary reinsurance program is created to help companies maintain health coverage for early retirees between the ages of 55 and 64. This also expires in 2014.
- Medicare drug beneficiaries who fall into the "doughnut hole" coverage gap will get a $250 rebate. The bill eventually closes that gap which currently begins after $2,700 is spent on drugs. Coverage starts again after $6,154 is spent.
- A tax credit becomes available for some small businesses to help provide coverage for workers.
- A 10 percent tax on indoor tanning services that use ultraviolet lamps goes into effect on July 1.
Very exciting day. Let us have R. Kelly play us out:
::Ciroc Obama Out::
The reason grandchildren and grandparents get along so well is because they have a common "enemy".~Unknown~
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