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Is the American Dream in transition?

Health reform has passed; now what? 

 

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    Health Reform Has Passed:  Now What?

    For the past several months health care has been the dominant domestic issue in the U.S.  The recently approved Patient Protection and Affordable Care Act was largely a result of the escalating cost of health care.  Health care costs currently comprise 18% of the nation’s GDP and 15% of Virginia’s budget.

    The focus on health care will continue to dominate as individuals, employers, insurers, states and health care providers cope with understanding the new law and how it impacts them. What we understand to date is that 32 million more Americans will get insurance, preexisting conditions can’t be used to deny coverage starting in 2014, state-run insurance exchanges will be available in 2014 (Virginia has already announced it will opt out of doing this), and beginning in 2013 an additional 0.9 percent increase in Medicare taxes and 3.8 percent tax on unearned income will affect higher income families and individuals.

    Much, much more needs to be known to gage the true impact of health reform.  There are items in the new law that may surprise you.  They include members of Congress being required to buy health plans through the state-run exchanges, vending machines and chain restaurants will be required to display calorie counts on their foods, illegal immigrants are precluded from buying coverage or receiving subsidies, tanning parlors will pay a 10% sales tax, and the IRS will be hiring some 17,000 new employees as they will have oversight for enforcing compliance with the law.

    What questions or concerns do you have as we await this major change in the administering of health care?

    Please share your thoughts on Jim's blog.
       

    Please share your thoughts on Jim's blog. (1 topic) Post New Topic
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    Health Reform. Lucie Ferguson 0 6/23/2010 6:05:06 PM
     
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    About Jim

    James W. Dunn joined Bon Secours Virginia Health System in 2008 as Vice President of Advocacy and Community Affairs.  In 2010 the American Hospital Association awarded him the Grassroots Champion Award for his exceptional leadership in generating grassroots and community activity in support of a hospital’s mission.  Jim was recognized for his outstanding grassroots advocacy efforts at the state and federal level.

    Previously, Jim spent 38 years as a chamber of commerce CEO, serving local chambers in North Dakota, Ohio, Georgia and Virginia.   Highlights of Dunn’s 18 years as president and CEO of the Greater Richmond Chamber included $75 million of special funding raised to support regional public-private economic development and transportation initiatives, and in advancement programs targeting early childhood development, crime and public safety and workforce development.  

    Style Weekly named Dunn “Richmonder of the Year” in 2000 and he was recognized as “Chamber Executive of the Year” by both the Virginia and American Chamber of Commerce Executives Associations. He received Leadership Metro Richmond’s “Ukrop Community Vision Award” in 2006. Recently, former Virginia Governor Tim Kaine presented Dunn a lifetime achievement award from the Commonwealth of Virginia for his leadership as a champion for investment in early childhood education.