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Decoding the New Overhaul on Healthcare

 After a year of passionate back-and-forth debate, the U.S. House of Representatives just passed the healthcare reform bill in a squeaker vote -- 219 to 212. Next up? President Obama is expected to give it his stamp of approval on Tuesday.

But with the numerous versions and several last-minute compromises, many are wondering what’s really in the $950 billion plan. Don’t worry, so were we.

According to a recent Wall Street Journal article, which offers a helpful overview of the key provisions, the changes in coverage, taxes, and fees will roll out between now and 2018. Looking for the immediate repercussions? According to the Journal, we can expect the following big changes in 2010.

· Small businesses will start to receive financial support to provide coverage to their employees

· Insurance companies will no longer be able to deny coverage to children with pre-existing conditions

· Children can stay on their parents’ insurance policies until their 26th birthdays

Other changes will include coverage of an additional 32 million Americans, an increase in Medicare payroll tax, a reduction of out-of-pocket prescription expenses for seniors on Medicare, and a law against restricting coverage for people with pre-existing conditions, according to USA Today.

And by 2014, every American will be required to have health insurance; those who are looking to self-insure will be able to purchase benefits from state-run health insurance marketplaces.

Looking for more details? Take an in-depth look at the various incarnations of the bill by checking out this tool from the Kaiser Family Foundation.

So what do you think about the new bill? Share your opinions below.

-- Laura Schocker

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