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Health Care Reform: What Will Change?

Health Care Reform: What Will Change?

Bill Sheridan | CPA Success

After all that time, effort and debate, we have health care reform.

What does it mean for you?

First up is this CCH briefing that highlights the tax changes made by the bill.

This CBS News summary examines further provisions in the bill, including expanded coverage, insurance reforms, individual and employer mandates, and how Congress plans to pay for the bill.

This NPR article takes a closer look at some of the other major changes contained within the bill — including an increase in the Medicare payroll tax.

“The bill adds a 0.9 percentage point to the Medicare payroll tax on earned income above $200,000 for individuals, or $250,000 for couples,” the article reads. “Under the reconciliation bill, starting in 2013, people in those income brackets also would face a 3.8 percent tax on investment income, such as interest, capital gains and dividends.”

Meanwhile, Peter Grier of the Christian Science Monitor examines what the bill means for businesses. CNNMoney’s Neil deMause offers his take on the business angle here.

All of that, of course, depends on the Senate approving the changes made to its bill by the House — and that’s not a given by any means.

Stay tuned.

For the record, Maryland Reps. Elijah Cummings, Donna Edwards, Chris Van Hollen, Steny Hoyer, Dutch Ruppersberger and John Sarbanes voted in favor of the bill. Maryland Reps. Frank Kratovil and Roscoe Bartlett voted against the bill.

What do you think of the bill? Let us know your thoughts, then check out these related resources: