Earlier today, President Barack Obama signed into law, his new health reform bill. The basis for this reform is to guarantee basic healthcare coverage for all. This controversial bill has made Republicans livid, causing them to make threats to repeal the law or take the issue to the supreme court. Due to the amount of Democrats backing the President, the Republicans were unable to kill it during the vote late Sunday.

The Republicans believe that Obama’s Bill would raise taxes and create new entitlements that our country can’t afford right now. In 13 states, Republican attorney generals have announced lawsuits challenging the constitutionality of the reform Bill. However, all actions to repeal the bill by disgruntled party will not succeed as long as Mr. Obama is President, due to the Presidential power to veto any repeal bill.

Now that it has been signed into law, what should we expect? Well no one really knows what’s in this healthcare reform bill yet, mainly because I don’t think anyone was able to finish reading the 1,017 page document. However, we do know that one of the immediate effects include a ban on withholding health insurance from children. on the basis of pre-existing medical conditions. Another, is a provision for young adults to stay on their parents’ policies until the age of 26.

Many Americans are just wondering whether or not their they will have to foot the bill for Obama’s Bill, even if they already have insurance. The answer is… you better believe it! With the current global economic state, I believe there is no way our country’s coffers have enough money to cover the 32 million people without health insurance. The average person who already has insurance will most likely have to pay for someone who claims they are too poor to afford their own insurance.

President Obama has promised the American people that his health care plan “will help bring our deficits under control in the long term.” However, the cost estimates coming out of the CBO (Congressional Budget Office) are not matching up with his claims. The latest CBO numbers estimate that Obama’s Bill increase the budget deficit by $239 billion over ten years, and costs will most likely continue increasing after those ten years.

Some highlights about this new bill:

• There are mandatory audits of all employers that self-insure!
• A government committee will decide what treatments and benefits you get.
• All US and non-US citizens, illegal or not, will be provided with free healthcare services.
• The federal government will have direct, real-time access to all individual bank accounts for electronic funds transfer.
• Taxpayers will subsidize all union retiree and community organizer health plans (example: SEIU, UAW and ACORN)
• Those eligible for Medicaid will be automatically enrolled: you have no choice in the matter.
• No company can sue the government for price-fixing. No “judicial review” is permitted against the government monopoly.
• The government will have the right to set doctor’s wages
• An employer MUST auto-enroll employees into the government-run public plan. No alternatives.

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This entry was posted on Tuesday, March 23rd, 2010 at 4:59 pm and is filed under U.S. News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.