Archive for: Healthcare reform
Debate rages on over long-term care insurance
Among the many provisions that Congress continues to dispute in working towards healthcare reform legislation is the idea of a government-run long-term care insurance program. Senate and House members form both sides of the aisle are questioning its actual value to the public, as well as its cost in the coming years, according to The Washington Post.
The program was included in late Senator Edward Kennedy’s (D-MA) Community Living Assistance Services and Supports (CLASS) Act. In his plan, long-term care coverage would be available to all Americans, who would be automatically enrolled with the choice to opt out. The government would control premium costs and the extent of cash benefits, which become available to an individual after five years in the program. The ability to immediately begin collecting premiums with a delay in paying benefits made the plan extremely attractive from a budget standpoint, but concern looms over the program’s cost down the road.
Senate Finance Committee passes healthcare reform bill
On October 13, the Senate Finance Committee, which spent the past two weeks discussing 130 amendments, approved its healthcare reform bill by a vote of 14-9. It is one of five pieces of legislation seriously being considered on Capitol Hill and is the only plan that excludes a public option, according to CNN.
The bill is expected to cost $829 billion over the next ten years and is partially financed by about $400 billion in spending cuts, including significant Medicare reductions. Democratic leaders in the House and Senate will begin drafting a single piece of legislation out of the five existing proposals. Republicans refuse to endorse a public option plan, which they argue would eventually lead to a government-run healthcare system. Senator Olympia Snowe of Maine was the only Republican committee member to support the bill, which was initially drafted by Chairman Max Baucus, D-MT.
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