Blog | Monday, May 10, 2010

QD--President promotes health care reform's immediate gains

President Barack Obama said over the weekend that health care reform has already improved lives. Many of the examples he cited tie into how the act will regulate the insurance industry. (Video of the 4:39 minute speach can be found here.)

Highlights of the speech include:
--Insurers have agreed to stop canceling coverage of sick people, ahead of their September deadline,
--A new federal office, the Office of Consumer Information and Insurance Oversight, will help states more tightly regulate insurers who game the system. Already, the administration stopped Anthem Blue Cross of California from raising health insurance rates by 39%,
--Four million small businesses benefited from health care tax cuts,
--Seniors will receive a $250 rebate check for prescription drug coverage,
--Young adults can stay on their parents' coverage until age 26, and
--The administration will draft a patients' bill of rights for consumers to educate consumers and then create an appeals process to enforce those rights.

(Business Week, Voice of America, AP, The New York Times, The Christian Science Monitor)