Bailout and Mental Health Parity Update

The Bailout which included mental health parity passed on October 3, 2008 by a vote of 263-171.  All seven of Georgia’s Republican congressmen voted against the bill again.

Per CNN, “Employers and insurers were concerned that legislation would have required plans to cover a “telephone book” of conditions, raising costs beyond what companies and their workers could afford and potentially negating companies’ ability to offer any health coverage at all.

The legislation does not mandate that group health plans cover mental health or addiction treatment, only that when plans do so, the coverage must be equitable to other medical coverage. The insurance industry is now a strong supporter of the parity legislation.

The requirement for equal treatment in insurance coverage would apply to health plans that cover more than 50 employees — potentially reaching 113 million people nationwide.

Overall, the parity legislation is expected to cost the federal government about $3.4 billion over 10 years. That’s because employers will have more health expenses that they can deduct from their income taxes. ”

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2 Responses to “Bailout and Mental Health Parity Update”

  1. Grahame Says:

    For more on how much this bailout is costing us (i.e., the Taxpayer, the American People) check out this article: Bailout, or Blowout? Financial “Rescue” Plan Turns into Mad Spending Spree.

    PS: you have some unwanted HTML showing through on your article.

  2. Your Friend Says:

    Grahame,

    Thanks so much! Legislature is not my thing, but since it had the mental health parity included I had to do something about it. Great link!

    Thanks for the formatting tip, too!

    Your Friend


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