It's official. The House health care reform bill will include a government insurance option. House Democratic leaders unveiled their nearly 2,000 page legislation Thursday. It aims to extend health coverage to 96% of all Americans once fully implemented. The public insurance option would have the government negotiate rates with health care providers. The measure also includes a mandate that individuals obtain coverage and businesses offer it.
Early indications are that Democrats are lining up behind the measure. Even Rep. Earl Pomeroy, D-N.D., who had been wary of any public option linking health care provider payments to Medicare rates, says he will support the current bill. Republicans on the other hand denounced the legislation. Not a single GOP member is expected to vote for it.
The final bill is estimated to cost about $894 billion over 10 years. It would be paid for largely by a surtax on the adjusted gross income of individuals making more than $500,000 and married couples making more than $1 million. The bill contains new revenue-raisers that would impose tax-compliance requirements on businesses and create a 2.5% excise tax on certain medical devices.
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