by Jennifer Moore

Created on: February 13, 2009

We have heard a multitude of controversy and speculation on Universal Health Care. During the elections, President Obama pledged to have implemented Universal Health Care by the end of his first term. With the excitement of debates, elections and the presidential inauguration behind us, it is now time to focus on what our new President has planned for health care reform. With the President's first term officially underway, many are now wondering exactly what Universal Health Care means for us individually and as a nation. Many are also wondering who will benefit from the program and who will be at a disadvantage as a result of the program. Here's the skinny on President Obama's health care reform.

A Universal Health Care system will allow families experiencing financial hardships and those with pre-existing conditions to obtain affordable health insurance plans. While insurance companies may not be looking forward to the additional completion that the President's plan will offer, families and individuals will benefit from the added competition as insurance companies will be more motivated to offer more affordable prices and more quality services.

Whether or not large employers will perceive this system as a benefit depends on which way you (or they) look at it. Under the new plan, all large employers will be required to contribute a certain amount (or percentage) towards employee coverage or towards the cost of an employee obtaining coverage on their own. Large companies that do not meet these standards will be required to contribute a certain amount (or percentage) to the national plan. On one hand, some employers will be required to contribute more than desired to employee health coverage. On the other hand, these same employers could greatly benefit from improved employee health as many studies in the last decade have shown that employee productivity increases with improved employee health.

An act banning Medicare from negotiating prescription drug discounts with pharmaceutical companies enabled an $8 billion profit increase just six months after it was put into effect by President Bush in 2003. This ban will be lifted and the national plan will heavily utilize the use of generic drugs. This is a bonus for patients who for whatever reason, continue without prescription plans and those with prescription plans that do not cover the cost of brand name drugs. Pharmaceutical companies however, will feel the financial sting from the restrictions placed on preventing

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