Subscribe to Dollars & Sense magazine. Recent articles related to the financial crisis. Baucus's Public OptionYes, here it is (thanks to Emptywheel for bringing it to our attention):Health Insurance Exchange. The Baucus plan would establish the Health Insurance Exchange through which individuals and small businesses in the market for insurance could obtain affordable health care coverage. ... This is from “Call to Action: Health Reform 2009,” put out by Sen. Finance Committee Chairman Max Baucus. The title may have you confused for a few minutes; why is everyone saying the Baucus plan has no public option? But then you notice the date on the document: November 12, 2008. A few interesting numbers from the current Baucus plan: The plan puts limits on insurance company “rating”—i.e., charging higher or lower premiums based on characteristics of the insured such as age. (The plan allows rating based on age, tobacco use, and family composition.) With the limits, premiums for the same-size family could vary by 7.5 to 1. That sounds pretty unaffordable for the late-middle-aged smoker. The plan defines affordability: as long as the lowest-cost plan available has annual premiums equal to 10% of household income or less, then “affordable” coverage is deemed available and the mandate to have insurance will apply—enforced by fines of up to $950/year for an individual and $3,800/year for a family. Labels: health care reform, health insurance, Max Baucus, public option |