Question of the Week: How Will You Be Affected by the New Health Care Bill?

Here’s a nice infographic I found which outlines the changes coming as a result of the new health care bill that just became law.

And here’s a calculator that the Washington Post put together to help you determine an estimate of what the effects of the new laws will be to your coverage, taxes, etc.

So what’s your opinion of the new health care bill? More importantly, how will you be affected? Both by the laws, and the affects the laws have on our future economy and health care.

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Last Edited: March 26, 2010 @ 11:44 am

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myfinancialobjectives

Wow I hope people out there are not so misinformed as to believe that calculator. That thing is a joke. Ron, thanks for the additional info. Biz, I'm sure many other companies will issuing similar letters soon...

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Sheila

That Washington Post calculator is crazy. It says there will be no effect to us. What about the increased tax on 'unearned' income (like my 'bonus', which is actually just part of my salary that they don't want to commit to)? What about the significant increases to our health insurance premiums? What the increased cost of many items I buy due to their increased costs to make the product (referencing things like IBM's estimate of 1 BILLION dollars increased cost, Caterpillar's estimates, etc.)? Everyone is affected by this in one way or another. To indicate otherwise is either naive or plain stupid, regardless of how you feel about it.

courtney e.

i could go on for days about my thoughts on this. i'm concerned about the financial impact of course (btw, agree w/ ron--considering this was something was put together by the WP, i'm dismissing it based on that alone) , but more concerned about healthcare in general. for those that think they'll be getting *quality* healthcare, they're going to be mistaken. having the govt control what doctors will be getting paid WILL NOT result in better healthcare.

MrsRefney

We'll be able to afford health insurance for the first time in either of our lives.

@Ron - Agree completely.@The
Biz of Life - Thanks for letting us know.

The Biz of Life

My company's HR department already put out a letter to employees indicating Obamacare will result in higher than planned premium increases for the next several years coupled with reductions in benefits. They've also warned retirees to expect a big hit, and have started to drop hints they will be dumped into one of the exchanges in the future. :-(

Ron

The Post's calculator is a joke. Almost anything you enter says you'll have no increase in taxes but what it fails to mention is that the AGI limit was increased 33 percent. If you itemize deductions, you'll have to have 33 percent MORE in medical expenses before being allowed to deduct them for your taxes. That's a tax increase on this middle class voter.

The bureaucrats may CLAIM they didn't raise taxes but the net effect on me and you is paying more because a deduction was made more difficult to use.

Add to that the $2,500 cap that was placed on my Health Spending Account (lowered from $5,000), and you get yet another tax increase on the middle class.