How the Health Care Reform Bills Change your Company
Second Quarter 2010
MANUFACTURING INSIGHTS |
On March 24, 2010, President Obama signed the Patient Protection and Affordable Care Act (H.R. 3590) into law. The House also passed the Health Care and Education Affordability Reconciliation Act (H.R. 4872), which modifies key provisions of H.R. 3590, by a vote of 220-211. H.R. 4872 modifies H.R. 3590 by raising additional revenues from high-income households and reducing the impact that new excise taxes on high-cost health insurance policies will have on middle-class households.
The Patient Protection Act and the House Reconciliation Act will fundamentally alter the health care system for individuals and employers. The bills push the U.S. closer to universal coverage by requiring all individuals not covered by Medicaid or Medicare to obtain health care coverage or pay penalties. Employers electing not to offer qualifying coverage would be subject to penalties. To learn more about these changes and the implications to your company, read our extended article President Signs Health Care Reform Legislation .