So this is going straight from the head of what I could read and understand in the historic 2000 page document that was sadly passed tonight. So if I can sum up what I AS THE TYPICAL AMERICAN can do right here:
1) Everyone will or will be required to have healthcare by 2014 or so or be penalyzed an amount that is approximately what many pay in healthcare today. So basically, if you don't get healthcare, you will pay for it anyway either in fine or through a national healthcare program or get something private or even stay with your current one.
2) Companies will be allowed to drop their healthcare payments to employees to 60% which is a huge drop from the averages that are in the 80%+ range. Mine is somewhat higher closer to the 90% range.
3) Government will have open access to bank accounts to I assume send money to for healthcare costs.
4) Yada yada yada, numbers and other stuff that don't really affect me and don't really get to what I am trying to get to.
With this bill, you have gone further in taking away more freedom from the American. They no longer can choose whether or not to get healthcare. So I guess if they don't have enough money coming in as it is already to put food on the table, they can now take those sick kids and family members to the hospital so they can be treated. TaDA! Yay!
Government in the national programs will most likely know everything about you from your bank accounts to what illnesses you have or have had. Wow. Nothing like going somewhere and having them know more about you than even you know! Forgot you had that embarrassing infection down "there"? Don't worry, I can bring up this database and it will show everything! "Oh wow, you also had warts on your feet back in 2008?? YUCK!"
So how does this affect the stock market? I honestly don't know. I would think it has to affect something. With this bill and the action to make people have their own retirement accounts (since obviously social security is a failure) in the future, I guess we really are paying for freedom - literally. I hear people say USA is finally catching up to the 21st century. What does that mean? You mean having less freedom like most of the rest of the world? BingO!
I would think stocks like Coventry Health Care (CVH), Aetna (AET), CVS Caremark (CVS), and many others somewhat involved in the healthcare industry will be affected someway either now or by 2014. But I don't know. Never was a healthcare fan. You see, I am young, I pay less than $80 in company health care, and never had a problem. But now that I got a problem, I am sure to stay up-to-date on this. Perhaps we can put our heads together and scope out which stocks to trade on this historic bill.
In the meantime, it is somewhat a disaster that many of these low-income families that are otherwise healthy, will have just that much LESS money coming in monthly to pay for their life's necessities.