Daily News Updates - Health Insurance News

Commonwealth Fund’s Most Excellent Healthcare Reform, Pt1 -- the Buzz

With our nation in such a troubled state concerning health insurance, and as many as 47 million citizens unable to afford health insurance, we do well to seek aggressive advice that delivers. “Health insurance at a 30% discount”…let me hear more. As presented by Michelle Andrews of “On Health & Money”, let’s analyze both merits and practicality. Michelle describes it as “…a healthcare system that provides coverage for nearly everyone and lowers insurance costs for individuals and small businesses by 30 percent.” Plausible or not, let’s review it. As published today in “Health Affairs”, this plan was created by the highly respected Commonwealth Fund group. It does propose many similarities to those plans touted by our Democratic candidates. But, whereas the candidates are sometimes criticized for lack of specifics, this plan goes into details concerning the costs to individuals and businesses. As our candidates are well aware, these numbers can always be disputed, which is one good reason to exercise caution. But, as the good people at the ‘Commonwealth’ are not in the tenable position of the candidates, they can speak more directly, and their educated assessment can be well appreciated.

The similarities continue to include the creation of a new national “connector”, as Michelle puts it. This is a portal through which individuals and small businesses can afford health insurance. They could choose between either private health insurance or a government-sponsored plan, similar to Medicare. All Americans would be required to choose a plan and no one will be turned down. Finally, our most destitute poor and disabled will have some life-saving relief! The insurers won’t be able to charge absorbatent prices either. Medicaid and SCHIP would be expanded to cover low-income adults and their children, as long as their income is less than 150% of the poverty line. Right now that poverty line is about $15,000 annually. In addition, tax credits will be given to all in order to help the financially-pressed afford the premiums. Employers can either provide health insurance to their people or must contribute to the general coverage pool.

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