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Health care businesses at risk in House overhaul
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The pain has been meted out with an eye toward raising the money needed to finance President Barack Obama's plan for reshaping the health system, but also in regard for gaining the votes that will be needed to pass a final bill. The Health care overhaul bill produced an array of new taxes, fees, and government mandates on major players in the health industry, including insureres doctors and drugs and medical devices makers.
Democrats hope to vote next week on the measure, which would extend health coverage to tens of millions of Americans who don't have it, impose sweeping new restrictions on run insurance plan to complete with them. The Democratic leaders unveiled Thursday that the House added $20 billion in taxes on sales of medical devices, like heart stents and artificial hip to the legislation. That is more than the industry wants to pay, but Senator leader Harry Reid, D- Nev., has agreed to slash the $40 billion fee on medical device makers in part to win cooperation from fence-sitting Democratic Sen. Evan Bayh of Indiana.
Health insurers would gain tens of millions of New customers under the health plan. House leaders plan to pursue separately from the broader health bill. Last week the Senate turned back an attempt to pass the pay-raise on its won at a cost of $247 billion over the next decade- side tracking what the American Medical Association has made a key priority in the health over haul negotiations.
Liberals wanted rates to be dictated by the government, which would have been less costly. Democrats moderates whose votes were needed to pass the plan insisted on that approach. The President of the Federation of American Hospitals, Chip Kahn, cheered the bill says it moves toward "a market-based health system.
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