Mental Health Parity Provision Signed Into Law as Part of Financial Rescue Plan
On October 3, 2008, President Bush signed into law a compromise financial rescue plan passed earlier in the day by the House by a 263-171 margin. As part of H.R. 1424, Congress included a “mental health parity” provision which had been previously passed by overwhelming majorities in the House (H.R. 6983) and Senate (H.R. 6049) in separate bills on September 23, 2008. This provision requires health plans providing mental health coverage to provide mental health coverage in the same manner as other physical health conditions. H.R. 1424 exempts group health plans of employers with fewer than 50 employees from these new requirements.
