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Sunday, September 13, 2009

Half of Americans under 65 to lose their health care?

MIAMI - OCTOBER 03:  University of Miami Pedia...Image by Getty Images via Daylife

A brand new report from the Treasury Department indicates that at some point over the next ten years approximately half of Americans under age 65 will lose their health care coverage.

In his weekly White House address, President Obama assured the American people that he would not let this happen. "In the United States of America, no one should have to worry that they’ll go without health insurance – not for one year, not for one month, not for one day. And once I sign my health reform plan into law – they won’t."

President Obama took this opportunity to tell those Americans already with health insurance that nothing in his plan would require them to change their doctor or the coverage they have. Rather, his plan would make sure their insurance would be improved. "We’ll make it illegal for insurance companies to deny you coverage because of a pre-existing condition, drop your coverage when you get sick, or water it down when you need it most. They’ll no longer be able to place some arbitrary cap on the amount of coverage you can receive in a given year or over a lifetime, and we will place a limit on how much you can be charged for out-of-pocket expenses – because no one should go broke just because they get sick."

In addition, those currently without coverage will be able (under his plan) to get quality plans at affordable prices.

He reaffirmed his commitment that any plan he signs will not to add one dime to the United States deficits. He actually predicted a deficit reduction of $4 trillion over the long term. How? By successfully slowing the growth of health care cost by a mere one-tenth of one percent.

President Obama stated the time for action is now.

Money Magazine Hoss agrees with the President. Enough debating. What is currently in place is not working. It's time to try something new. In a country as abundant as America, it is a travesty, an international embarrassment, that so many are without the means to get health care.

Stay on Track,

Money Magazine Hoss

Next Hoss Cents Free Financial Money Magazine Post: September 20, 2009
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