Reform US Health

The crux of the health care reform bill is to provide quality care for the citizens at a subsidized rate. Therein, decreasing the deficit of the US, by several billions over a decade!
Here is the question answered about who actually pays for the health care reform?

• People who have a higher health insurance plan which costs them more than $27,500 annually for a family will have to pay a tax which could be as high as 40% of the premium paid.
• Couples with a high take home income and people with income gained from interest and capital gains will have to pay a Medicare tax of 3.8% additionally.
• Salons and spas will have to pay a tax at a rate that is far higher of up to 10%. Same is the case with pharmaceutical companies, insurance companies and the medical device manufacturing companies. They will be imposed with a far higher fee and the government plans to cover $33 billion by this means. It certainly goes without saying that they are going to pass on all of these spending on to the consumer. Therefore, drugs which are already priced double of what they are priced across the border in Canada will be far more costly than what it already is.
• Individuals who are not insured, under any kind of health insurance scheme, will be imposed a penalty of 2.5% of their income. That means that all legal residents and citizens of the country will have to be covered under some kind of health insurance scheme.
• Families will benefit by about $88,000 which is almost an increase of 400% to be able to buy themselves health insurance coverage for a family of four. This will be earned in the form of tax credits. They can go ahead and purchase health insurance through the insurance exchanges that are going to be set up by the government. This will enable the buyer to make a comparative analysis, study the various health insurance options and choose one that offers them the best coverage at the minimum premium.
• Small business owners will be able to get a tax credit for buying health coverage for up to 25 employees and with a wage of $40,000 and less.

The federal government will pay for all of this initially and then the tabs for the health care reforms will be picked up by the states at 10%. This is one of the most far reaching of health care reforms the US has seen. Not until the introduction of Medicare and Medicaid health care package has such a reform been considered in this most industrialized country. This is not only going to have more American citizens covered under its purview but will also bring about an impact on every citizens life. You would either have to buy insurance or be under the expanded state-federal run insurance program for the poor or disabled.  You could be considered out of the buying of health insurance scheme because of an individual mandate based on religious beliefs.