Late Night Extra: The Senate Finance Committee has leaked some big changes to the House Bill. As I posted my summary of the bill I would create, A major leak of the Senate bill hit the wires.
- Individual Mandate to obtain insurance.
- No employer mandate but a tax to reimburse subsidy’s to low income workers obtaining insurance.
- Scaled deductibility of high cost insurance. Those with $25,000 of annual benefits might only get to deduct 65% of the cost, much like the current entertainment 50% deduction.
- Limit on Flexible Spending Accounts. HSA’s not mentioned, but HRA’s probably also limited.
- Formation of a non-profit co-op to compete with insurers. A government run plan is off the table.
- Elimination of pre-ex clauses
- Major changes to Medicare enforcement of reimbursement cuts as mandated in previous legislation.
First look is a big improvement.