The drawn out battle over health care reform reached a new milestone today as House Democrats unveiled a 1,990-page bill that includes a public health insurance option to extend insurance coverage to an estimated 36 million uninsured Americans. Just hours ago President Obama released a formal statement on the House’s progress and—in a more modern fashion—even used Twitter to relay the good news to the public, tweeting: “Congrats to the House for introducing strong, fully paid-for health reform legislation that includes a public option.”
The proposed bill would broadly expand Medicaid, the sate-federal insurance program for the poor, by subsidizing insurance for low- to moderate-income citizens, giving them the option to purchase insurance either from private carriers or a new government-run plan. The bill would also cap annual out-of-pocket expenses and prevent private insurance companies from denying people coverage based on pre-existing conditions.
"The House legislation includes critical reforms to the insurance industry, so that Americans will no longer have to worry that they will be denied coverage, or that their coverage will be dropped or watered down when they need it most," said Obama in his press release today.
"I’m also pleased that the bill includes a public option offered in an exchange. As I’ve said throughout this process, a public option that competes with private insurers is the best way to ensure choice and competition that are so badly needed in today’s market. And the House bill clearly meets two of the fundamental criteria I have set out: it is fully paid for and will reduce the deficit in the long term."