Either way that's a lot of money.The Joint Committee on Taxation says drug companies, medical device manufacturers and insurers would pay $121 billion over 10 years as a result of taxes in the Senate Finance Committee bill.
That's compared with $92 billion originally calculated.
The House leadership continues to work on fusing the three versions of its health care reform bill, HR 3200. The Politico reports that 158 members of Congress wrote to the Speaker strongly objecting to the Senate Finance Committee's concept of imposing an excise tax on so-called Cadillac plans. The House bill relies on Medicare Advantage cuts and a high earner income tax surcharge for its funding. (I wouldn't be surprised if the House adopts the Senate Finance Committee's taxes on health insurers, etc.) The House leadership will meet with its caucus tomorrow on health care reform.
I was stunned to learn today that House Oversight and Government Reform Chairman Henry Waxman and several other Committee chairs wrote a letter to HHS Secretary Sibelius taking up the privacy zealots complaint that the harm standard should be eliminated from the HHS nationwide security breach notice rule. The security breach notice rule requires HIPAA covered entities and business associates to notify affected parties if a use or disclosure of protected health information violates the HIPAA Privacy Rule and creates "a significant risk of financial, reputational or other harm to individual." The harm standard effectively requires the HIPAA covered entity or business associate to consider whether the breach creates a threat of identity theft or reputational harm before sending out a breach notice that no doubt will freak out the recipient. This common sense requirement is included in the Office of Management and Budget's sensible guidance to federal agencies on handling security breaches. I do hope that calmer heads will prevail.
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