The most sweeping legislation was passed by the United States House in four decades which is ‘Obama’s Health Care Bill’ and is, indeed, a landmark legislation that will overhaul the entire United States Health Care System. The passed legislation rewrote the governing rules of health care industries through which millions of uninsured Americans are expected to cover their medical needs and insurance coverage (Litvan, 2010).
The biggest victory was marked through the votes of 219-212 in favor of President Barack Obama who officially sanctioned the bill and is likely to sign the bill lawfully for official implementation as per law. The legislation was voted only by the democrats who underscored a partisan division and resulted in further progression of health care in November’s congressional elections as a defining issue.
An action was hailed by the lawmakers regarding the proposed health care legislation in terms of ‘historically followed Medicare program created in 1965’ which was basically for the elderly and was too conceived a mitigating way of high costs of health care comprising almost sixth economy of the United States. Following the last minute deal, the legislation came along with democrats of anti-abortion and Obama’s lobbying trip towards capitol (Tobak, 2009).
Just before voting, Nancy Pelosi, House Speaker said that it is really a great honor and a great humility that history will be made by us tonight for the prosperity of entire American people and the progress of entire country. Pelosi further stated that our greatest efforts in supporting this legislation will empower the health care of Americans and will join the hands of those legendary patriots who constituted Medicare and Social Security for the development of United States, welfare of American people and empowerment of overall health care system (Quinn, 2010).
For final execution, a Senate bill was passed by the House Democrats in December. Apart from sanctioning legislation, another vote was being prepared on the grounds of liking or disliking the provisions which would be amended the Senate legislation. This second bill also needed to be passed by the Senate under the processed budget cost called reconciliation which usually needs a majority vote. The office of the Congressional Budget estimated that this approved health care legislation comprising two bills will cover 32 million Americans who are uninsured and is likely to cost $940 billion above 10 years.
The CBO said that it will decrease the federal budget deficit because it is made up of more than the fees of health care companies, new tax of highest earners and Medicare savings up to billions of dollars (Morrow, 2010). The extension of this medical coverage will provide millions of new customers for the health care insurance companies such as drug maker of New York ‘Pfizer Inc. ‘, medical-device maker of Minneapolis ‘Medtronic Inc. ‘ and health insurer of Indianapolis ‘WellPoint Inc.
‘. Additionally, all these companies will too get new fees up to billions of dollars. Joining overhaul as a part, it was accepted by the drug makers to assist old aged in affording medicines much easily. The legislation opposers, specifically insurers, will have to face limits for expenditure of revenues on the medical expenses being covered and will be obliged to accept all customers, despite of prescribed and pre-approved conditions.