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Parity Act

New law an expensive burden

Just a few weeks ago, we all heard a lot about the $700 billion Wall Street bailout passed by Congress after much wrangling and negotiating.

What we didn’t hear much about were the earmarks and add-ons within the bailout.

One, which goes into effect in January 2010, is the Mental Health Parity Act. The Senate added this little number to the bailout, where it hid mostly unnoticed as the legislation made its way through Congress and to the president’s desk to be signed.

The act will require companies offering health insurance to their employees to bring mental...
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