Health care vote

Capitol Hill

Today, the United States Congress will vote on a massive, $940 Billion health care bill that could change the way the US health care system looks and operates. This bill has been over a year in the making by President Obama and most Democrats. Although this bill is a watered down version of what the President wanted, it still aims to include about 30 million people who do not currently have health insurance. The Republicans in the US Congress and throughout the country are, for the most part against this plan and wish it would just go away. I wonder what the Republicans that can not afford health care right now think of this bill though.

The new health care system in America will look much like the old system where you have insurance companies that sell you various types of health insurance. However, they will not be able to deny coverage for people with pre-existing conditions or cap your policy payout when you get sick, among other nasty practices. It is still very different from the health care system that Canadians and many other advanced countries have where everyone is included.

The US health care system as it is right now is for some people, the best in the world, but for others, terrible. For those with money that can afford the best of the best, it is undoubtedly the best system in the world with the best doctors and institutions. However, for those in the middle class who live paycheck to paycheck, let alone those who do not have any health insurance, this system is either awful, or ok until someone gets really sick and then it is capable of not only being completely ineffective but can also put a family in bankruptcy.

This bill, if it passes, will not change all of those cons that the current system has, but it will increase the number of people that will have access to it and it will give the consumers some more rights. It is supposed to make it cheaper for small businesses to purchase coverage which will be great if that will actually happen.

For the stock market, in the short term there is likely going to be uncertainty which will mean sluggish stock performances, but in the longer term, it is likely to be positive overall. Hopefully the quality of the US health care system will remain the best in the world because if not then the entire economy may take the hit and that will be bad for everyone, not only Americans.