Obama Speaks on Health Reform's Benefits in 2010

Obama talks about that elusive good job with a good wage, and then delves into the immediate benefits of healthcare. See a health reform timeline of benefits and when they start here.

Uninsured Americans with a pre-existing illness or condition will finally be able to purchase coverage they can afford.

Children with pre-existing conditions will no longer be refused coverage, and young adults will be able to stay on their parents’ policy until they’re 26 or 27 years old.

Small business owners who can’t afford to cover their employees will be immediately offered tax credits to purchase coverage.

Early retirees who receive coverage from their employers will see their coverage protected and their premiums go down.

Seniors who fall into the coverage gap known as the donut hole will receive discounts of up to 50 percent on their prescriptions as we begin to close that gap altogether.

And every patient’s choice of doctor will be protected, along with access to emergency care.

Here’s what else will happen within the first year. Insurance plans will be required to offer free preventive care to their customers – so that we can start catching preventable illnesses and diseases on the front end. They’ll no longer be allowed to impose restrictive annual limits on the amount of coverage you receive or lifetime limits on the amount of benefits you receive. They’ll be prohibited from dropping your coverage when you get sick and need it most. And there will be a new, independent appeals process for anyone who feels they were unfairly denied a claim by their insurance company.

In short, once I sign health insurance reform into law, doctors and patients will have more control over their health care decisions, and insurance company bureaucrats will have less. All told, these changes represent the most sweeping reforms and toughest restrictions on insurance companies that this country has ever known. That’s how we’ll make 2010 a healthier and more secure year for every American – for those who have health insurance, and those who don’t.

Transcript