Healthcare Reform Update - 30March2010

President Obama Signs Reconciliation Bill Into Law

• At 11:30 this morning, President Obama signed into law the Healthcare and Education Reconciliation Act of 2010.
• The Reconciliation Act will merge with the legislation Obama signed last week to create one final law.
• The Reconciliation Act changes many of the finer details of the existing health reform law.
• For example, it increases the penalties for employers and individuals who do not purchase insurance, as well as increases the federal subsidies provided to help people comply.
• The law also includes a large provision aimed at overhauling the student loan system, through which private lenders will be cut out from originating federal student loans. This provision is estimated to save the federal government as much as $7 billion per year.