Washington, D.C. —- Rep. Bob Etheridge, the only North Carolina member of the House Ways and Means Committee, voted today to improve North Carolina’s economy and lower health care costs for millions of Americans by voting in favor of H.R. 3962, “Affordable Health Care for America Act”.
The bill passed the House of Representatives by a vote of 220-215 and will provide greater health care stability and security to North Carolina families, expanding access to insurance for millions of Americans.
“This bill will dramatically improve our nation’s health insurance system by reducing health costs for families, which have skyrocketed in the past decade,” Etheridge said. “When it comes to caring for your loved ones when they are hurt or get sick, folks want security and stability with their health care. This bill provides coverage you can count on that cannot be taken away.”
The bill will help the economy, families and small businesses by returning true choice and competition to the marketplace. It also lowers the cost of health care and makes the overall system more efficient for individuals. For the first time ever, insurance companies will be prohibited from denying coverage because of pre-existing conditions and it also includes a public insurance alternative to expand individual choice and use market competition to bring down costs. The legislation is fully paid for, and reduces the deficit in both the short- and long-term.
The Affordable Health Care for America Act makes simple but long-needed reforms that benefit middle class Americans by making it easier to access and afford quality health care insurance.
This bill improves health care for seniors in Medicare, reducing costs and extending Medicare’s solvency. The legislation brings an end to the prescription drug ‘donut hole’ which has unfairly burdened the pocketbooks of seniors, decreasing out-of-pocket costs by $500 immediately, cutting copayments in half in the short term, and fully closing it over the next 10 years. The bill also provides better and more timely payments to doctors who accept Medicare and attacks waste, fraud and abuse in Medicare ensuring more money goes to benefits and improving senior health and quality of life.
This reform will help small businesses address the crushing costs of health care. In particular, this legislation will curb skyrocketing health care costs and provides greater access to health care for small businesses. Companies that offer their employees health insurance coverage will get a tax credit for two years to help them transition to, or continue, providing health benefits to their employees–paying up to 50% of their costs.
The legislation will expand individual choice and prevent insurers from denying benefits that doctors recommend. This bill will place caps on out-of-pocket health expenses, and remove the ability of insurance companies to place annual or lifetime limits on coverage. Choice will be reinforced with one-stop comparison insurance shopping through a health insurance exchange.
“Rebuilding our economy is the top priority, and we cannot do that until we control the cost of health care,” Etheridge said. “Americans need stable, quality care they can count on. The cost of doing nothing is too great and my vote is to secure our nation’s health care system while strengthening our economy.”