How will the Stimulus Package Help People with Arthritis?
From the hot election debates to the town hall rallies, the package is finally delivered – President Obama today signed the $787 billion dollar stimulus package to resuscitate the economy. The government now established a website www.recovery.gov for people to track where the money will be spent. Let’s focus on whether the stimulus package will help people with arthritis.
· The bill provides a $400 credit per worker and a $800 credit per dual-earner couple. The full credit would be paid to people making $75,000 or less ($150,000 per dual-earner couple). A partial credit would be paid to those making above those amounts but no more than $100,000 ($200,000 for couples).
· Many people with arthritis are retirees. There is a one-time payment of $250 to those who don’t work.
· For workers who recently lost their jobs, the bill helps to pay for health insurance under Cobra. Cobra coverage allows newly unemployed workers to keep health insurance provided by their former employers for a period of time. The stimulus package provides federal subsidies to cover 65% of the cost of health insurance premiums under COBRA for as long as nine months. This can be a tremendous help for people who take prescription arthritis medications.
· For workers who recently lost their jobs but can’t afford health care or can’t get cobra coverage, the bill provides states funding to help pay for expanded Medicaid rolls.
· There is a $1.1 billion for research to compare the effectiveness of medications and medical devices. Potentially, the government agency may compare the efficacy of arthritis medications. There are pros and cons to this initiative. The advantage is that medications that perform below par will not get reimbursed. However, one has to take into considerations that medications work differently according to individuals’ genetic makeup. A drug that only works for 5% of the population is still a meaningful medication to keep around and reimubursable.
All in all, the purpose of the $787 billion dollar stimulus package is to create more jobs. This hopefully will make our retirement stock portfolios to rebound from misery. Eventually, there will be more spending money for people to try health and wellness regimens, such as taking tai-chi or trying joint pain supplements and other programs to control their arthritis pain.
