Under the new health plan, large and midsize companies will be required to provide health-care coverage for employees. If they don't, they will pay a fee into a fund that would create a public health plan similar to "the one that every federal employee--from a postal worker in Iowa to a Congressman in Washington--currently has for themselves." Workers will either continue to get health coverage through their employers or choose the new federal plan.

Along with the public health fund, Obama's plan creates a National Health Insurance Exchange which combines private insurance options with the public plan. The exchange, according to the campaign site, will allow both individuals and small businesses to buy health coverage that is more affordable. The health plan also calls for the creation of a new Small Business Health Tax Credit to give small businesses a refundable tax credit of up to 50% of what is paid out on premiums on behalf of their employees.

And for those Americans concerned they will lose or have to change their current health plan, it was made clear on Obama's campaign site that under his new plan, all people will be able to keep their current coverage--they will simply pay less.

Under President-elect Obama's health care plan, all children will be required to have health care coverage. Parents will be required to purchase health insurance for their children or enroll their children in a public health plan (Medicaid, SCHIP or the new Obama public health plan). Also, insurance companies will be required to cover pre-existing conditions such as diabetes or epilepsy, and preventive services like cancer screenings.

The estimated cost of President-elect Obama's health care plan is $50 - $65 billion a year and will be paid for by rolling back tax cuts for Americans making over $250,000 per year, and through the death tax.

Job Woes and Health Insurance

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