I'm pleased it has a public option. The explanation of how it will work begins on page 211 if anyone is interested. It will be on the exchange, have a start up of 2 billion which must be paid back in 10 years, and be sustained by premium dollars. There is a "limitation on funding" and "no bailout" clause in which the language elaborates that the public option will "in no case" receive "public funds due to insolvency".
Consumers will be able to choose from three different qualities regarding the public option; basic, premium and premium plus plans.
Rates will be negotiated with providers.
As far as establishing a provider network, those who currently take Medicare will by default take the public option unless they opt-out.
There's a bit more and like I said it starts on page 211 and ends on page 225 for those interested in looking themselves. Seems like a sweet deal.
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