Barack Obama’s health care plan follows the Democratic template—an emphasis on dramatically and quickly increasing the number of people who have health insurance by spending significant money upfront. The Obama campaign estimates his health care reform plan will cost between $50 and $65 billion a year when fully phased in. He assumes that it will be paid from savings in the system and from discontinuing the Bush tax cuts for those making more than $250,000 per year. By contrast, the McCain Republican strategy for health care reform would first emphasize market reforms aimed at making the system affordable so more Americans can be part of the system and he claims that there would be no additional upfront cost. Obama breaks his health care reform plan down into three parts saying that it builds “upon the strengths of the U.S. health care system.” The three parts are:
1. Quality, Affordable & Portable Health Coverage For All
2. Modernizing The U.S. Health Care System To Lower Costs & Improve Quality 3. Promoting Prevention & Strengthening Public Health
Obama claims that his health care reform plan will save the typical family up to $2,500 every year through: * Health information technology investment aimed at reducing unnecessary spending that results from preventable errors and inefficient paper billing systems. * Improving prevention and management of chronic conditions. * Increasing insurance industry competition and reducing underwriting costs and profits in order to reduce insurance overhead. * Providing reinsurance for catastrophic coverage, which will reduce insurance premiums. * Making health insurance universal which will reduce spending on uncompensated care.