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President Obama completes the second and final installment of legislation to overhaul the health insurance system by signing into law a series of changes to the first bill, including a new Medicare tax on unearned income. The signing of the Health Care and Education Reconciliation Act of 2010 (H.R. 4872) caps off an 18-month-long effort to find a way to expand health care to millions of uninsured individuals and still cut long-term health care costs for the federal government. The $940 billion bill is projected to cut the budget deficit by $143 billion over its first 10 years. Tax-exempt hospitals already are doing many of the things required under newly enacted health care reform legislation, but the sector's willingness to embrace the new mandates will depend on how IRS implements some of them, an American Hospital Association official tells BNA.
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