President Obama Highlights New Treasury Report on Instability of Health Insurance in America

[ProSense]

WEEKLY ADDRESS: President Obama Highlights
New Treasury Report on Instability of Health Insurance in America

WASHINGTON – In this week’s address, President Barack Obama highlighted a new report from the Treasury Department that found that about half of all Americans under 65 will lose their health coverage at some point over the next ten years. The report also found that Americans under 21 have more than a 50-percent chance of going uninsured at some point in that time. And more than one-third of Americans will go without coverage for longer than one year. The full Treasury report can be viewed HERE (PDF).

The full audio of the address is HERE. The video can be viewed online at www.whitehouse.gov.

Remarks of President Barack Obama
Weekly Address
The White House
September 12, 2009

On Wednesday, I addressed a joint session of Congress and the American people about why we need health insurance reform and what it will take to do it.

Since then, I’ve continued to hear from many Americans across the country about why this is so urgent and important.

I’ve heard from Americans who can’t get health coverage; men and women who worry that one accident or illness could drive them into bankruptcy.

And I’ve heard from Americans with insurance who thought that "the uninsured" always referred to someone else – but between skyrocketing costs and insurance company practices; they’re beginning to worry that they could find themselves uninsured too.

It’s an anxiety that’s keeping more and more Americans awake at night. Over the last twelve months, nearly six million more Americans lost their health coverage – that’s 17,000 men and women every single day. We’re not just talking about Americans in poverty, either – we’re talking about middle-class Americans. In other words, it can happen to anyone.

And based on a brand-new report from the Treasury Department, we can expect that about half of all Americans under 65 will lose their health coverage at some point over the next ten years. If you’re under the age of 21 today, chances are more than half that you’ll find yourself uninsured at some point in that time. And more than one-third of Americans will go without coverage for longer than one year.

I refuse to allow that future to happen. In the United States of America, no one should have to worry that they’ll go without health insurance – not for one year, not for one month, not for one day. And once I sign my health reform plan into law – they won’t.

My plan will provide more security and stability to those who have health insurance; offer quality, affordable choices to those who currently don’t; and bring health care costs for our families, our businesses, and our government under control.

First of all, if you are among the hundreds of millions of Americans who already have insurance through your job, or Medicare, or Medicaid, or the VA, nothing in my plan will require you or your employer to change the coverage or the doctor you have.

What my plan will do is make the insurance you have work better for you. We’ll make it illegal for insurance companies to deny you coverage because of a pre-existing condition, drop your coverage when you get sick, or water it down when you need it most. They’ll no longer be able to place some arbitrary cap on the amount of coverage you can receive in a given year or over a lifetime, and we will place a limit on how much you can be charged for out-of-pocket expenses – because no one should go broke just because they get sick.

Second, if you’re one of the more than thirty million American citizens who can’t get coverage, you’ll finally have quality, affordable choices. If you lose your job, change your job, or start your own business, you will be able to get coverage.

And as I have said over and over again, I will not sign a plan that adds one dime to our deficits – period. This plan will be paid for. The middle-class will realize greater security, not higher taxes. And if we can successfully slow the growth of health care costs by just one-tenth of one percent each year, it will actually reduce the deficit by $4 trillion over the long term.

Affordable, quality care within reach for the tens of millions of Americans who don’t have it today. Stability and security for the hundreds of millions who do. That’s the reform we seek.

We have had a long and important debate. But now is the time for action. Because every day we wait, more Americans will lose their health care, their businesses, and their homes – but also the dreams they’ve worked for and the peace of mind they deserve. They are why we have to succeed.

So if you’re willing to put country before party and the interests of our children above our own; if you refuse to settle for a politics where scoring points is more important than solving problems; and if you believe, as I do, that America can still come together to do great things – then join us. Give us your help. And we will finally get health insurance reform done this year.

The Obama Plan: Stability & Security for all Americans

[ipaint]

1. I'm sure this plan will be paid for.

With dollars shoveled to private ins. corporations in the form of taxpayer subsidized extortion payments, ridiculously high co-pays, deductibes and monthly premiums.

Of course the comfy middle class will have their beautiful but worried minds eased with this faux reform, the working class and the working poor are about to get screwed to pay for that peace of mind. Isn't that the way it always works.
And those in the lower class that can't make the pound of flesh payments every month will be called "Insurance Deadbeats, relegated to the fringes as something just south of traitors along side the "Welfare Queens" of thirty years ago.

[Doctor_J]

6. I am in the comfy middle class, and I am pissed

don't lump us non-poor folks in with the rich & the brainwashed teabaggers.

[ipaint]

8. Yes there are folks like you who get it.

But your voices are squashed as are ours by the majority who don't. Just look at this at DU.

[Skink]

2. Scrap the plans instead lower the medicare age to 50.

[ProSense]

3. Why? The public option is open to people of all ages. You believe only people 50 and above

should benefit?

[Doctor_J]

4. The public option is only open to those who aren't subject to price-fixing

in the for-profit scam. I am being gouged by my employer-provided BCBS, and can't get the public option. As Skink suggested, Medicare should be open to everyone.

[ProSense]

7. Nonsense. You assume price gouging will continue, and distort availability of the public option.

More Stability and Security

• Ends discrimination against people with pre-existing conditions. Over the last three years, 12 million people were denied coverage directly or indirectly through high premiums due to a pre-existing condition. Under the President’s plan, it will be against the law for insurance companies to deny coverage for health reasons or risks.
  
• Limits premium discrimination based on gender and age. The President’s plan will end insurers’ practice of charging different premiums or denying coverage based on gender, and will limit premium variation based on age.
  
• Prevents insurance companies from dropping coverage when people are sick and need it most. The President’s plan prohibits insurance companies from rescinding coverage that has already been purchased except in cases of fraud. In most states, insurance companies can cancel a policy if any medical condition was not listed on the application – even one not related to a current illness or one the patient didn’t even know about. A recent Congressional investigation found that over five years, three large insurance companies cancelled coverage for 20,000 people, saving them from paying $300 million in medical claims - $300 million that became either an obligation for the patient’s family or bad debt for doctors and hospitals.
  
• Caps out-of pocket expenses so people don’t go broke when they get sick. The President’s plan will cap out-of-pocket expenses and will prohibit insurance companies from imposing annual or lifetime caps on benefit payments. A middle-class family purchasing health insurance directly from the individual insurance market today could spend up to 50 percent of household income on health care costs because there is no limit on out-of-pocket expenses.
  
• Eliminates extra charges for preventive care like mammograms, flu shots and diabetes tests to improve health and save money. The President’s plan ensures that all Americans have access to free preventive services under their health insurance plans. Too many Americans forgo needed preventive care, in part because of the cost of check-ups and screenings that can identify health problems early when they can be most effectively treated. For example, 24 percent of women age 40 and over have not received a mammogram in the past two years, and 38 percent of adults age 50 and over have never had a colon cancer screening.
  
• Protects Medicare for seniors. The President’s plan will extend new protections for Medicare beneficiaries that improve quality, coordinate care and reduce beneficiary and program costs. These protections will extend the life of the Medicare Trust Fund to pay for care for future generations.
  
• Eliminates the "donut-hole" gap in coverage for prescription drugs. The President’s plan begins immediately to close the Medicare "donut hole" - a current gap in its drug benefit - by providing a 50 percent discount on brand-name prescription drugs for seniors who fall into it. In 2007, over 8 million seniors hit this coverage gap in the standard Medicare drug benefit. By 2019, the President’s plan will completely close the "donut hole". The average out-of-pocket spending for such beneficiaries who lack another source of insurance is $4,080.

Sec. 202. Exchange-eligible individuals and employers. Defines who is eligible for participation in the Health Insurance Exchange including employers and individuals. In year one, individuals not enrolled in other acceptable coverage are allowed into the Exchange as well as small employers with 10 or fewer employees. In year two, employers with 20 and fewer employees are allowed into the Exchange. In subsequent years, the Health Choices Commissioner is granted authority to expand employer participation as appropriate, with the goal of allowing all employers access to the Exchange.

<...>

Sec. 313. Employer contributions in lieu of coverage. Requires an offering employer to contribute to the Exchange for each employee who declines the employer’s coverage offer and enters the Exchange via the affordability test outlined in the act. The contribution is generally 8% of the average salary for the employer.

<...>

Sec. 412. Responsibilities of nonelecting employers. Establishes a payroll tax of 8% of the wages that an employer pays to its employees for employers who choose not to offer coverage. Certain small employers are exempt from this or are subject to a graduated tax rate. An exempt small business is an employer with an annual payroll that does not exceed $250,000. The 8% payroll tax phases in for employers with annual payroll from $250,000 through $400,000.

link (PDF)

[ipaint]

10. Yes, in your perfect world

The majority of paid off democratic politicians and their appointed corp. lobbyists to head up regulatory agencies don't exist much less could have allowed gross corporate abuse against the majority of americans in the recent and past history of our country.

[joeycola]

9. that would be great. But better, open Medicare for ALL.

[Doctor_J]

5. How does mandating everyone's submission to Big Insurance help this?

:shrug: