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In the News:
The good news is it’s becoming increasingly less likely that you’ll owe federal estate taxes. That’s because the amount an individual can leave to heirs free of federal estate taxes in 2009 is $3.5 million (up from $2 million in 2006-2008).
Pros and Cons of Health Reform
Pros:
Everybody can have health insurance if they want it.
Insurers will not be able to stop paying for people who
are sick, even if they lose their jobs.
People who cannot afford health insurance won't have
to pay as much money.
People who are already sick will be eligible for
healthcare.
Health insurers can no longer cap coverage. In other
words, they will no longer say that they have spent enough on you and you're on your own for the next
hundred thousand dollars.
There will be increased competition in the insurance
market. It might be from a public option. It might also be from some kind of non-profit,
state-specific co-operative. This might push the healthcare companies to lower costs and provide better
service.
Cons:
For the first ten years, it will cost about $100 billion
a year.
The bill might increase the cost of health insurance.
This depends on whether the gains from increased efficiencies and increased competition is outweighed by
the cost of providing additional benefits.
The Individual Mandate. You will have to either buy
health insurance if you don't have it or have a 2% tax increase. This insurance will be subsidized-but
there is no guarantee that the subsidy will suffice for your specific situation.
There will be a tax increase on high income people.
If you are making more than half a million (or maybe a full million) you will have about a 1% tax increase.
Increased government involvement in healthcare.
Additional regulation on insurance companies.
This might increase costs.
Physicians will have increased access to information
about what treatments are most effective for their cost. If two treatments work equally well and one is
cheaper, doctors can recommend that one.
Large employers may also have to offer health
insurance to more of their employees. If they do not, they may have to pay some extra tax.
