Health Care Reform - House Democrats Release a Plan

Yesterday, House Democrats released their proposal for sweeping health reform. The bill includes higher taxes on the rich, expands coverage, and penalizes all but the tiniest employers. Main points of the bill include:

• A tax surcharge ranging from 1% to 5.4% for individuals making over $280,000/yr and families making over $350,000/yr

• Employers not providing insurance to workers will have to pay a fee - equal to 8% of wages for an employers with an annual payroll over $400,000/yr - to the government to subsidize coverage. Employers with annual payrolls greater than $250,000 but less than $400,000 will pay a smaller fee.
  

• Has the potential to reduce the rolls of uninsured by 37 million, leaving approximately 17 million still uninsured

A copy of the bill can be found here.

The WSJ article can be found here and the New York Times article can be found here.