Obama Offers Universal Affordable Health Insurance Plan

Barack Obama's Health Insurance Plan

Barack Obama unveiled his plan to insure nearly 45 million more Americans -- and make health care more affordable for those who are already insured -- by the end of his first term as president this afternoon in Iowa. He vowed to turn the page on the 'you're on your own' attitude towards health care that has dominated our politics for far too long:

"We are not a country that rewards hard work and perseverance with bankruptcies and foreclosures. We are not a country that allows major challenges to go unsolved and unaddressed while our people suffer needlessly. In the richest nation on Earth, it is simply not right that the skyrocketing profits of the drug and insurance industries are paid for by the skyrocketing premiums that come from the pockets of the American people.

"This is not who we are. And this is not who we have to be."

Here is the description of Barack Obama's health insurance plan in his words.

My plan begins by covering every American.

"If you already have health insurance, the only thing that will change for you under this plan is the amount of money you will spend on premiums. That will be less.

If you are one of the 45 million Americans who don't have health insurance, you will have it after this plan becomes law. No one will be turned away because of a preexisting condition or illness. Everyone will be able buy into a new health insurance plan that's similar to the one that every federal employee " from a postal worker in Iowa to a Congressman in Washington " currently has for themselves. It will cover all essential medical services, including preventive, maternity, disease management, and mental health care. And it will also include high standards for quality and efficiency.

If you cannot afford this insurance, you will receive a subsidy to pay for it. If you have children, they will be covered. If you change jobs, your insurance will go with you. If you need to see a doctor, you will not have to wait in long lines for one. If you want more choices, you will also have the option of purchasing a number of affordable private plans that have similar benefits and standards for quality and efficiency.

To help pay for this, we will ask all but the smallest businesses who don't make a meaningful contribution today to the health coverage of their employees to do so by supporting this new plan. And we will allow the temporary Bush tax cut for the wealthiest Americans to expire.

But we also have to demand greater efficiencies from our health care system. Today, we pay almost twice as much for health care per person than other industrialized nations, and too much of it has nothing to do with patient care.

That's why the second part of my health care plan includes five, long-overdue steps we will take to bring down costs and bring our health care system into the 21st century " steps that will save each American family up to $2500 on their premiums.

First, we will reduce costs for business and their workers by picking up the tab for some of the most expensive illnesses and conditions.

Right now, two out of every ten patients account for more than eighty percent of all health care costs. These are patients with serious illnesses like cancer or heart disease who require the most expensive surgeries and treatments. Insurance companies end up spending a lion's share of their expenses on these patients, and not surprisingly, they pass those expenses on to the rest of us in the form of higher premiums. Under my proposal, the federal government will pay for part of these catastrophic cases, which means that your premiums will go down. "