Posted on February 10, 2010 12:22
Categories: Legislative and Regulatory Issues | Employer and Individual Insurance
Topics: Health Care Reform | Individual Coverage | Legislation (National) | Out-of-Pocket | Spending
This report, released on December 18 by U.S. Department of Health and Human Services (HHS) Secretary Kathleen Sebelius, outlines the effects of health care reform legislation on health care costs and health plan choice. The report explains major provisions of health care reform and notes that a one percent drop in health care costs will also improve the economy, increasing median family income $6,800 by 2030 and creating 320,000 new jobs.
From the report:
Health insurance reform creates an "exchange" or marketplace for insurance competition that will drive down premium prices for Americans. The exchange will lower administrative costs by reforming the health insurance market, enabling American families to easily and simply compare the prices, benefits and performance of health plans. The Congressional Budget Office estimates that such reforms will lower premiums of a comparable plan in the individual market by 7 to 10 percent. That means more money in the pockets of American families, and the security of having high-quality coverage.
Full report: Protecting Families & Putting More Money in Your Pocket: How Health Insurance Reform Will Lower Costs & Increase Choice (PDF | 472.07 KB)
US Department of Health and Human Services (HHS). (2010). Protecting families & putting more money in your pocket: how health insurance reform will lower costs & increase choice.
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