Senate, House healthcare bills

FACTBOX-Major differences in Senate, House healthcare bills

http://www.reuters.com/article/idUSN2317087220091224

(Excerpts)

PUBLIC OPTION: “The Senate bill has no public option. However it requires the U.S. Office of Personnel Management, which oversees the health policies for 8 million federal workers and their families, to contract with private insurance companies to offer policies on the exchanges.”

So people still have to go through private insurance companies.

FINANCING: “The Senate bill includes a 40 percent excise tax on high-cost health insurance plans.”

Like for coal miners and other high-risk occupations.

ABORTION: “The House bill contains tougher language that would require anyone seeking coverage for elective abortions to purchase separate insurance riders.”

Women who are currently covered will suddenly be affected.

COVERAGE MANDATES: “Both the Senate and the House require most individuals to obtain health insurance. Both bills impose a penalty on those who fail to get coverage. The House would impose a 2.5-percent penalty tax on income up to the average cost of an insurance policy. The Senate would phase in a $750-per-person annual penalty up to $2,250 per family or a penalty of 2 percent of taxable income, whichever is greater. The full penalty would take effect in 2016.”

What if somebody doesn’t have the $750?