ObamaCare. This historic bill (H.R. 3590), officially titled the “Patient Protection and Affordable Care Act,” went on to be signed into law (Public Law 111-148) by President Obama on March 23, 2010. Popularly known as “ObamaCare,” this bill essentially completed the government takeover of the American healthcare system that was begun with Medicare and Medicaid in 1965. The ObamaCare law creates 159 new government agencies, which will inevitably drive private healthcare insurers out of the market, just as its pilot program, RomneyCare, is already beginning to do in Massachusetts. Although its official cost estimate was $1 trillion for the first 10 years, ObamaCare will soon join Medicare and Medicaid in the list of unfunded healthcare liabilities of the federal government, which together add up to tens of trillions of dollars.
ObamaCare would create an exchange in each state for the purchase of government-approved health insurance, mandate that most individuals purchase health insurance, fine individuals who don’t purchase health insurance, subsidize the purchase of health insurance for individuals earning up to 400 percent of the poverty level, require employers with 50 or more employees to provide healthcare coverage or pay a fine if any employee gets a subsidized healthcare plan from the exchange, and prohibit insurance companies from denying coverage based on pre-existing conditions.
The Senate passed H.R. 3590 on December 24, 2009 by a vote of 60-39 (Roll Call 396). We have assigned pluses to the nays because the federal government has no constitutional authority to require individuals to purchase health insurance or to manage the healthcare industry.
