House passes landmark health care bill

House passes landmark health care bill
The House health care bill passed Saturday would:

Require most Americans to purchase health insurance or pay a fine.

Expand health care coverage to 36 million more people over the next decade.

Require employers with payrolls above $500,000 to provide insurance to their employees or pay a fine.

Prohibit insurance companies from denying coverage because of pre-existing medical conditions.

End premium disparities between men and women.

Impose a 5.4 percent income tax surcharge on income above $500,000 annually for individuals and above $1 million annually for households.

Establish a government-run insurance plan to compete with private insurers beginning in 2013.

Cost $1.2 trillion over 10 years.

Cut Medicare spending by more than $400 billion over 10 years.