Current Status and Impact of Health Care Reform

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To:Client Name
From:Joseph Willis
Subject:Current Status and Impact of Health Care Reform
Date:25 January 2011

The purpose of this report is to examine the current state of health care as well as the impacts that new legislation will have on the United States healthcare system. Specifically, this report will inspect the immediate and long term effects of the healthcare reform bill HR 3590 that was signed into law on March 23, 2010 as well as investment advice on the medical care industry. There are two main topics when it come to health care reform, coverage and cost control. Both sides of the debate recognize these as the eventual goal but both sides have different opinions on the procedure to achieving this goal. The current health care reform bill includes a very controversial provision know as the individual mandate which some believe is a necessary tool that will bring more health care to more people. Others who oppose it say that it will only exacerbate the current problem of over utilization of third party payers and will cause prices to rise further. The bill that was passed on March 23 was scored by the Congressional Budget Office (CBO) as a deficit reducing bill and many proponents of the bill point to this an claim that a government run system will be more efficient. However, the CBO report is widely debated for misleading information and it does not include the reconciliation bill (HR 4872) signed into law on March 30, 2010 that amends HR 3590. The entire debate can be summed up into two main groups, those who think that the government can run health care and those who believe that the free market can run healthcare. According to an article titled Major tax provisions in U.S. healthcare bill reported by Donna Smith of Reuters, the bill includes a large number of taxes including "a new 3.8 percent tax on income from investments including capital gains, dividends and interest… an increase in the Medicare payroll tax by 0.9 percent on...
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