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WORLD> America
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Senate's decade health fix to cost $856B
(Agencies)
Updated: 2009-09-16 23:04 "Forcing through a partisan bill gives the impression that Democratic leadership and the White House are more concerned with political victories than they are with passing lasting, bipartisan health care reform. I hope that's not the case," said Sen. John Cornyn, R-Texas, head of the committee tasked with electing Republican senators.
People insured through large employers would not see major changes, but some of their health care benefits would be nicked to help pay for the cost of the plan. The Baucus proposal would limit to $2,000 a year the amount people can contribute to flexible spending accounts, which are used to cover copayments and deductibles not paid by their employers. That provision would raise $16.5 billion over 10 years. Everyone covered through an employer would learn the full costs of their health benefits, which starting next year would be reported on employees' W-2 tax forms. Although family coverage averages about $13,000 a year most workers don't know how much their employer is paying. Not carrying insurance could result in a steep fine, as much as $3,800 per family, or $950 for an individual. People who can't afford their premiums would be exempted from the fine. The plan proposes a $6 billion annual fee on health insurance providers, which would recoup some of the profits the companies expect to make from millions of new taxpayer-subsidized customers. Democratic leaders are aiming for votes in the full House and Senate this fall.
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