How will the new Healthcare Law be paid for? « Health Insurance Advisory

Welcome to the New Healthcare Law Center and State News

new healthcare reform lawThe new healthcare law, called the Patient Protection and Affordable Care Act (PPACA), represents comprehensive healthcare reform legislation signed into law on March 23, 2010. It contains numerous provisions designed to protect consumers and promote low cost medical insurance, including many new taxes to pay for the cost.

In this section of the site, you can also obtain the following information specific to your state: available medical insurance options, efforts to regulate medical insurance premiums, healthcare, the individual medical insurance marketplace and the new healthcare law.

Our objective is to help Americans make sense of the new healthcare law by explaining key provisions in plain English and assisting individuals, families and the self-employed in using this information to find and secure affordable medical insurance.

How will the new Healthcare Law be paid for?

Author: Administrator | Aug 28 2011 | Taxes - New Healthcare Law

When the new healthcare law, called the Patient Protection and Affordable Care Act (PPACA), was presented to the public the cost was expected to be close to $1 trillion dollars. Half or $500 billion was to come from Medicare cuts and the other 50% was to be raised through the phase in of new taxes beginning in 2011.

The Medicare savings included reduced reimbursement on a continuing basis to Medicare providers. The pending reduction is currently 23%. This includes payment reductions to doctors, hospitals, home health, skilled nursing facilities, hospice and other Medicare providers. This reduction and the current low reimbursement rate does not reflect the true cost of providing medical care. Medicare Advantage plans will also see their reimbursement reduced.

Passed by Congress and signed into law in March, 2010 by President Obama, the new healthcare law remains a much debated issue because of the cost and how to pay for it.

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