The economic stimulus plan passed in the House with a vote of 246 to 183, according to the New York Times. The Senate should vote on the bill later today.
NAHU released a statement outlining some of the effects the bill will have on the health care industry.
- States will receive $87 billion in additional Medicaid money in the form of an increased federal match for existing programs rather than an expansion. The funding would last for a 27-month period backdated for Oct. 1, 2008, and will continue through Dec. 31, 2010.
- Doctors and hospitals will receive $19 billion to help adopt health information technology systems.
- $1 billion will be used to implement prevention and wellness programs.
- $1.1 billion is allotted for federally-funded studies to determine the effectiveness of drugs, devices and medical procedures.
- There will be a 65 percent subsidy for COBRA continuation premiums for up to nine months for workers who have been involuntarily terminated; employees who were terminated between Sep. 1, 2008 and enactment of the bill will have an additional 60 days to elect COBRA coverage.
- $8.5 billion is allotted for biomedical research at the National Institutes of Health to study diseases such as Alzheimer’s, Parkinson’s, cancer and heart disease, with an additional $1.5 billion for NIH to renovate university facilities.