Signs of success for the health care reform bill have lately been hard to find. Now that a Republican has replaced the late Ted Kennedy, a great activist in health care reform himself, Democrats are hesitant to move forward. The bill already resembles a mere shadow of its former self. With the threat of non-action, the bill, if passed, will be severely scaled back.
These days, Obama's proposed health care insurance reform is looking rather unhealthy itself. The Democrats suffered a tremendous blow on Monday as heavily blue state Massachusetts went against the grain and voted a Republican in as Senator. The winner, Scott Brown, vows to vote against health care reform increasing Republican leverage in the matter.
The implications of a scaled back health insurance reform bill are considerable. On Wednesday, a determined Nancy Pelosi sought to convince hesitant Democrats to pass the Senate version of the reform bill. Democrats were none too happy to go forward on something that will not get bipartisan support.
The Massachusetts upset created a virtual Mexican standoff, blindsiding Obama and fellow democrats who were close to agreeing on a final bill. The new obstacle even has Obama scurrying to put a scaled back version of the bill on the table to attract bipartisan support.
What does a leaner version look like? Obama’s goal is to cut insurance costs to American citizens. Price gouging is rampant in the industry and the toll on America is too great to ignore. In order to gain Republican support, the bill needs to contain a clear financial path that does not blow up the budget. Moreover, many Republicans feel that passing a mandatory health insurance bill would be unconstitutional. Florida Attorney General Bill McCollum has even threatened to sue the feds should a mandatory bill be passed.
Republicans also want a bill that contains new regulations for the insurance industry such as getting rid of denial of coverage because of pre-existing conditions. Aid for small businesses in giving employees health insurance and restrictions on malpractice lawsuits are also on the Republican agenda.
Other items are up for revision too. A push to cut back Medicare even further to stem financial bleeding may become reality. Other provisions like the move to protect the status of biologic drugs for 12 years may be tacked on to different legislation. The recently extended COBRA coverage could also be a target.
Money is of utmost importance in creating a bill that is agreeable to both Democrats and Republicans. Health costs already are incredibly high. If the bill is indeed scaled back, health insurance company’s benefit. They maintain profit and investors regain confidence.
On Thursday, the Obama administration agreed to strip down the so-called 'cadillac tax' which would tax high-end insurance policies. This move could lead to a faster resolution to health care insurance reform. The threshold for taxation, previously $2300 for individuals would be calculated according to age, gender and ratio of workers in high-risk jobs.
If the deadlock can be overcome, Americans will likely see health insurance coverage costs go down and a ban on the pre-existing conditions clause. Insurance companies themselves, will most likely have to foot some of the bill causing investor confidence to drop slightly. How the money is divided is key in the passage of Obama's health care reform bill.
Written by Lani Shadduck
HULIQ.com
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