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Today is: Friday July 30, 2010

Article Date: 02/23/2010

Obama's Healthcare Reform Modifications

On Monday, Obama announced his healthcare reform proposal. The following are some key modifications:

Managed Care - a "Health Insurance Rate Authority" will allow the government ot review health-plan rate increases. Delay until 2014 the Senate's proposed $67 billion assessment (over 10 years) on health-insurance providers.

Medicare Advantage - A compromise between the House and Senate bills, while providing a greater certainty of cost savings by linking to current fee-for-service costs.

Medicare Part D - Phase down coinsurance to 25% by 2020 throughout the gap.

Coverage Requirements - Improves healthcare affordability by increasing tax credits and improving cost-sharing assistance for individuals and families. No public plan and no employer mandate.

Cadillac Plans - Delays implementation of excise tax on high-cost insurance plans from 2013 to 2018. Also raises the threshold that defines a Cadillac plan (from $8,500 to $10,200 for individuals and from $23,000 to $27,500 for families).

Generic Drugs - Provision preventing branded-drug manufacturers from compensating generic-drug manufacturers to delay the introduction of generic drugs.

Branded Drugs - Raise the Senate's $23 billion assessment on the drug industry (over 10 years) by $10 billion and delays implementation by one year to 2011.

Medicaid - Expand Medicaid by creating a nationwide Medicaid-eligibility floor at 133% of the Federal poverty level and provides financial support to the states to establish this threshold. It replaces the Senate's variable state-support structure to a standard 100% Federal support level from 2014 to 2017, declining to 95% in 2018 and 2019, and down to 90% in 2020 plus.

Medical Device - Replaces the device fee with an excise tax beginning in 2013 (same revenue projection of $20 billion).

Website Address: http://online.barrons.com/article/SB126687647050349955.html