Post by unlawflcombatnt on Aug 26, 2009 4:13:15 GMT -6
Though the current health care legislation pending in Congress, HR 3200, has many bad aspects, the one truly beneficial one is the "public health insurance option." And this "public option" is a favorite of the People, with a recent CBS poll showing that 72% of Americans favor a public option. In contrast, there is considerable disagreement on most other provisions of the legislation.
Despite what critics say, the public option provision of the legislation is crystal clear on one major point: the cost. It requires $0.00 of government/taxpayer funding. This is spelled out clearly in the bill. There is a startup cost of $2 billion--less than the cost of "cash-for-clunkers." And even this is to be paid back with interest. Regarding the "public option," premiums will be paid by enrollees to completely cover the predicted cost of medical care, as well as covering the administrative costs. Again, as stated in the current bill, the public health insurance option does not cost taxpayers a penny over the long run. (The $2 billion start-up will be paid back within the 1st year through premiums.)
The public health insurance option is described from pages 116-124 of the current legislation--HR 3200. Below is an excerpt, starting on page 118:
(i) health benefits provided by the public health insurance option; and
(ii) administrative costs related to op erating the public health insurance option.[/b]
(2) CONTINGENCY MARGIN.—In establishing premium rates under paragraph (1), the Secretary shall include an appropriate amount for a contingency margin.
(b) ACCOUNT.—
(1) ESTABLISHMENT.—There is established in the Treasury of the United States an Account for the receipts and disbursements attributable to the operation of the public health insurance option, including the start-up funding under paragraph
(2).Section 1854(g) of the Social Security Act shall apply to receipts described in the previous sentence in the same manner as such section applies to payments or premiums described in such section.
(2) START-UP FUNDING.—
(A) IN GENERAL.—In order to provide for the establishment of the public health insurance option there is hereby appropriated to the Secretary, out of any funds in the Treasury not otherwise appropriated, $2,000,000,000. In order to provide for initial claims reserves before the collection of premiums, there is hereby appropriated to the Secretary, out of any funds in the Treasury not otherwise appropriated, such sums as necessary to cover 90 days worth of claims reserves based on projected enrollment.
(B) AMORTIZATION OF START-UP FUNDING.—
The Secretary shall provide for the repayment of the startup funding provided under subparagraph (A) to the Treasury in an amortized manner over the 10-year period beginning with Y1.
(C) LIMITATION ON FUNDING.—Nothing in his section shall be construed as authorizing any additional appropriations to the Account,other than such amounts as are otherwise provided with respect to other Exchange-participating health benefits plans.
3 SEC. 223. PAYMENT RATES FOR ITEMS AND SERVICES...."[/ul]
It can't get much clearer than that. This "public option" is privately-paid insurance where the enrollees pay 100% of the costs, and taxpayers pay NOTHING. In fact, there is even a provision to "privatize" the administration of the plan, just like with Medicare does.
The only people who have any legitimate reason to oppose this plan are Health Insurance Companies, as this plan will cost less for equal coverage, since it doesn't have to pay CEO salaries & bonuses, management salaries & bonuses, and shareholder dividends.
This plan is modeled after Medicare (as per the wording in the actual legislation), and even uses the same Medicare fee schedules.
There is really nothing to dislike about the public option part of the plan. It doesn't cost taxpayers anything, and it provides the same coverage as Medicare.
Don't let health insurance companies fool you. This is not "government-run" healthcare. It's just non-insurance-company-run health care. It replaces the medical decision making of private bureaucrats with the decision-making of doctors and patients.
HR 3200 had much to dislike, but the public insurance option is not one of them.
Despite what critics say, the public option provision of the legislation is crystal clear on one major point: the cost. It requires $0.00 of government/taxpayer funding. This is spelled out clearly in the bill. There is a startup cost of $2 billion--less than the cost of "cash-for-clunkers." And even this is to be paid back with interest. Regarding the "public option," premiums will be paid by enrollees to completely cover the predicted cost of medical care, as well as covering the administrative costs. Again, as stated in the current bill, the public health insurance option does not cost taxpayers a penny over the long run. (The $2 billion start-up will be paid back within the 1st year through premiums.)
The public health insurance option is described from pages 116-124 of the current legislation--HR 3200. Below is an excerpt, starting on page 118:
(i) health benefits provided by the public health insurance option; and
(ii) administrative costs related to op erating the public health insurance option.[/b]
(2) CONTINGENCY MARGIN.—In establishing premium rates under paragraph (1), the Secretary shall include an appropriate amount for a contingency margin.
(b) ACCOUNT.—
(1) ESTABLISHMENT.—There is established in the Treasury of the United States an Account for the receipts and disbursements attributable to the operation of the public health insurance option, including the start-up funding under paragraph
(2).Section 1854(g) of the Social Security Act shall apply to receipts described in the previous sentence in the same manner as such section applies to payments or premiums described in such section.
(2) START-UP FUNDING.—
(A) IN GENERAL.—In order to provide for the establishment of the public health insurance option there is hereby appropriated to the Secretary, out of any funds in the Treasury not otherwise appropriated, $2,000,000,000. In order to provide for initial claims reserves before the collection of premiums, there is hereby appropriated to the Secretary, out of any funds in the Treasury not otherwise appropriated, such sums as necessary to cover 90 days worth of claims reserves based on projected enrollment.
(B) AMORTIZATION OF START-UP FUNDING.—
The Secretary shall provide for the repayment of the startup funding provided under subparagraph (A) to the Treasury in an amortized manner over the 10-year period beginning with Y1.
(C) LIMITATION ON FUNDING.—Nothing in his section shall be construed as authorizing any additional appropriations to the Account,other than such amounts as are otherwise provided with respect to other Exchange-participating health benefits plans.
3 SEC. 223. PAYMENT RATES FOR ITEMS AND SERVICES...."[/ul]
It can't get much clearer than that. This "public option" is privately-paid insurance where the enrollees pay 100% of the costs, and taxpayers pay NOTHING. In fact, there is even a provision to "privatize" the administration of the plan, just like with Medicare does.
The only people who have any legitimate reason to oppose this plan are Health Insurance Companies, as this plan will cost less for equal coverage, since it doesn't have to pay CEO salaries & bonuses, management salaries & bonuses, and shareholder dividends.
This plan is modeled after Medicare (as per the wording in the actual legislation), and even uses the same Medicare fee schedules.
There is really nothing to dislike about the public option part of the plan. It doesn't cost taxpayers anything, and it provides the same coverage as Medicare.
Don't let health insurance companies fool you. This is not "government-run" healthcare. It's just non-insurance-company-run health care. It replaces the medical decision making of private bureaucrats with the decision-making of doctors and patients.
HR 3200 had much to dislike, but the public insurance option is not one of them.