Last 20 pages of U.S. Senate Health Care Bill (pgs. 201-220)

Hip, hip, hooray! This article details the last twenty pages of the U.S. Senate healthcare bill. For all of those whom have followed along this journey of all of the articles revealing the specifics of the 220 pages, I thank you. The final stretch begins now.

President Barack ObamaBarack Obama had promised that people would not be taxed more in reference to this bill. However, he did not promise that corporations and companies would be taxed more. Taxing big companies will affect all consumers because the prices for health care insurance and for prescriptions will skyrocket. As an example, pages 201-202 declare that employers will be fined for under reporting liability for tax to insurers starting on 1/1/2010. Also, over the counter medicine will not be reimbursed through your flexible health spending accounts on pages 203-204. The purpose of having a flexible spending account is to use it to cover for health care expenses that is not covered by the health insurance provider. On page 205, health spending accounts to be taxed an extra 20%. People will not be taxed more, but the deductions on your income taxes will be less. The wording of this bill is very deceptive. On pages 206-207, health-spending accounts will be limited to $2,000 starting on 1/1/2013. If you have a hospital bill more than $2,000 that is not covered by your provider, then you will have to pay the rest out of pocket starting in 2013. I guess the new healthcare system will be called out of your pocket.

Pages 208-218 really will put the foot of the government upon the necks of corporations worldwide. All health care transactions made with corporations must be documented or the companies will be fined starting in 2012. Non-profit hospitals must not discriminate against anyone receiving emergency medical care starting in 2010. All prescription drug makers will be taxed. This tax kills capitalism; here is the tax: 10% of sales between 5 and 125 million dollars, 40% of sales between 125 and 225 million dollars, 75% of sales between 225 million and 400 million dollars and 100% (yes, all) of sales over 400 million dollars. Drug companies will not be allowed to make over 400 million dollars. Here is why the government wants this bill passed so quickly; this tax begins 1/1/2010. Also, beginning on 1/1/2010, all manufacturers and importers of medical devices to the USA will be taxed as well. The tax is 50% of sales between five and twenty-five million dollars and 100% of sales over 25 million dollars. All healthcare insurance providers will be taxed an aggregate annual fee of six billion dollars. All clinical labs will be taxed 100% of revenues over $500,000. These taxes will cripple medical research and sales; thus, putting millions of people in jeopardy and in peril.

Last but certainly not least, retirees will no longer receive a tax reduction for subsidy payments made for prescription drugs. This means that those on Medicare will have to pay more for prescription drugs. That is why I do not want this bill to pass because the elderly have been through too much in their lives to have their life savings wiped out due to prescription drugs.