Jill Schlesinger

The Financial Decoder

Health Care: How’s it Going to Affect Me?

By Jill Schlesinger | Jul 22, 2009 |

I’ve talked to health care economists, health care providers, insurance and pharmaceutical industry insiders and Americans of all income levels to discuss the current debate about health care reform. The consensus is clear: we need reform, but I/we don’t want to bear too much of the burden.

This morning on The Early Show, Maggie Rodriguez and I examined the impact on three types of people to illustrate how, depending on individual circumstances, health care reform may impact different segments of the population. The general categories were: the uninsured, the small business owner and the high income earner.

You can see how everyone agrees that action is necessary, but getting there involves a number of moving pieces. That’s why President Obama plans to deliver a prime time press conference tonight to address health care reform. He’s going to have his hands full selling the plan.

President Obama must explain how the plan can offer Americans more choices and more security; remain deficit neutral; and keep long-term costs down, especially after Douglas W. Elmendorf, Director of the Congressional Budget Office released a report noting that the current House plan does little to cut health care expenses. Elmendorf wrote that by 2019, the plan would result “in a net increase in the deficit of an estimated $65 billion.”

In a preview of what we might expect to hear tonight, last night on The CBS Evening News, Katie Couric spoke to President Obama about his fight for health care reform. (Go here for the full interview.)


Watch CBS Videos Online

Read More:

Obama’s Health Care Promises: Can You Really Keep Your Doctor?

Health Care Reform Cheat Sheet

 
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  •  
    1

    Blithedale

    07/22/09 | Report as spam

    RE: Health Care: How's it Going to Affect Me?

    Sure $65 billions sounds like an awful lot. Until you compare
    that to the FY10 $130 billion request for spending on the wars
    in Iraq and Afghanistan. That $130 billion brings the total so
    far to more that $1 trillion -- ie 1000 billion. So $65 billion is
    only 6.5% of the cost of the wars in Iraq and Afghanistan SO
    FAR.

  •  
    2

    faust101

    07/23/09 | Report as spam

    RE: Health Care: How's it Going to Affect Me?

    Yeah, because that's how you justify bad spending. We already spent all of this money on the war so why not spend more money on an equally bad idea! Good thinking.

  •  
    3

    Kathy Kristof

    07/23/09 | Report as spam

    RE: Health Care: How's it Going to Affect Me?

    The fact is, if we don't reign in health care spending, its going
    to gobble up whatever remains of our discretionary income. We
    can talk about how you need top-notch health care, but we
    also need to eat. Already, too much of the federal budget is
    going to entitlement programs and interest on our debt.
    Increase that number and you start to squeeze out your ability
    to do anything else, like educate your population and provide
    decent roads for them to get to work.

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Jill Schlesinger

Jill Schlesinger is the Editor-at-Large for CBS MoneyWatch.com. Prior to the launch of MoneyWatch, she was the Chief Investment Officer for an independent investment advisory firm. In her infancy, she was an options trader on the Commodities Exchange of New York.

Jill Schlesinger

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