President Obama and the White House unveiled a new $950 billion health plan today that seeks to combine existing House and Senate bills, and to serve as a starting point for Thursday's high-profile summit with Republican and Democratic congressional leaders.
The combined plan calls for new federal oversight of health insurance company practices, including rate hikes; new tax credits to offset the cost of insurance premiums; excise taxes on high-cost, so-called "Cadillac" health care plans; and closing the "doughnut hole" coverage gap in the existing prescription drug plan for seniors.
There is also a proposed 2.9% tax assessment on income from interest, dividend, annuities, royalties, and rents, applying to individuals who make more than $200,000 annually and families that make more than $250,000.
The Obama health care proposal also calls for fines on businesses that don't insure their employees for at least $2,000 per person, as well as individuals who refuse to obtain health care insurance.
The package "puts American families and small business owners in control of their own health care," said the proposal
Friday, March 12, 2010
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