Americans are still learning what the health care overhaul law will mean for them in terms of reducing the cost of health care for the middle class, enhancing health care for seniors, and providing tax credits to small businesses and individuals. While reducing the cost of health coverage, the new law also will reduce the deficit by $143 billion over the next 10 years. Key benefits for Vermont include:
- Reducing family health insurance premiums by $1,690 - $2,410 for the same benefits, as compared to what they would be without health reform by 2016.
- Creating 600 - 1,000 jobs by reducing health care costs for employers.
- Allowing 59,437 young adults to stay on their parents? insurance plans.
- Providing more federal funding for community health centers in Vermont.
- Offering tax credits for up to 13,202 Vermont small businesses and up to 52,8000 individual Vermonters to help make health insurance more affordable.
- Prohibiting insurance companies from excluding coverage of pre-existing conditions for the 126,275 children in Vermont, starting this year.
- Closing the gap in Medicare prescription drug benefits for 104,000 Vermont seniors.
- Ensuring affordable coverage options for 74,000 Vermonters who are uninsured and 25,000 Vermonters who purchase health insurance through the individual market.
- Providing access to affordable insurance options for as many as 7,001 uninsured Vermonters who have a pre-existing condition.
For more on what health care reform means for Vermont, click here.
For a state-by-state analysis of the bill, click here.