The Latest Senate Healthcare Plan
Here are the details from the latest healthcare plan that was proposed in the Senate
People under age 26 may remain on parents insurance or get insurance independently
– This popular rule allows young people to retain health insurance while they are shifting from college to finding a stable job in the workforce.
22 million could lose coverage, per CBO
– Some of these individuals are not “losing” coverage, but deciding against purchasing insurance.
People ages 50-64 pay 5x more than young people
– Under Obamacare, people in this age bracket pay 3x more than young people known as the “3:1 rule”
Allow states to ask insurers to reduce required coverage on pre-existing conditions. Federal subsidies will be used to offset costs for individuals
– This will allow insurers to ensure they do not lose an excessive amount of money covering people that need a lot of medical care.
Phases out federal funding for Medicaid expansion between 2022-2023
– This is more than 2 years later than the proposed health care plan from the House of Representatives.
Repeals ACA taxes on corporations and wealthy that pay for insurance subsidies
– These taxes stifle the ability for companies and hospitals to innovate, offer competitive pay and have lower costs.
Tax credits to pay premiums based on age, income and geography
– These credits will take into account more factors than just age, as the House plan proposes.
$2 Billion / year fund for grants given to states to fight substance abuse and to treat mental health issues
– These funds will be earmarked for use at the state-level to combat and help treat those addicted to opioids and those with mental health issues.
1 year block on reimbursements to Planned Parenthood
– The federal government will stop sending money to this organization– a place where abortions are performed routinely.
10. Federal contributions to Medicaid begin declining in 2020
– The federal government will begin to cut funding for the Medicaid program slowly starting in 2020.
Healthcare and Insurance Infographics