It’s no secret we are drowning in a sea of economic woes right now, and it seems none of the waves are calming just yet. With all the lifesavers, or bailouts, that the government is throwing out, we are praying that one of them will work and pass with little opposition from either party. And finally, it seems that the American people might get a much-needed lifesaver thrown their way.

On Nov. 12, Sen. Max Baucus,-Montana, introduced a health care plan that will “guarantee health insurance for all Americans by facilitating sales of private insurance, expanding Medicaid and Medicare, and requiring most employers to provide or pay for health benefits,” as reported by The New York Times.

This would come at a much-needed time with unemployment rates rising, federal aid for citizens being pushed to the limits and premiums that are not getting any cheaper.

Most importantly though, three Republican senators worked on this plan alongside Baucus and his three other Democratic peers. This health care plan is a perfect example of what bipartisanship can produce.

Baucus’ plan includes some key features, including making Medicaid more accessible to legal immigrants and those in poverty, as well as creating a health insurance exchange, similar to the one that President-elect Barack Obama talked about on the campaign trail.

It would also make it mandatory for insurance companies to provide coverage for those who have been or are sick; they couldn’t turn anybody away based off of present health or past medical history.

The largest obstacle for this universal health care plan would be the insurance companies; they stopped the passage of a similar bill under President Clinton in 1994. But it seems that even they realize the pressing need this time around for a health care overhaul, as some call it. This time, insurance companies support accepting all applicants if Congress includes a requirement that everyone must have health care. This was not a part of the original plan; as introduced, it would eventually be a requirement, not from the start.

The new position taken by the insurance industry could ease the way for passage of such legislation, according to The New York Times.

This requirement would help lower costs for all. Right now, people often only seek health care when they are sick. By doing this, the prices for everyone are raised.

Those who don’t think the time is right for such drastic measures could not be more off base. According to The Washington Post, almost half of Americans believe our health care system to be poor. Seventy percent believe that the industry needs to be completely reformed.

It is our nation’s single largest sector of the economy, taking up almost a fifth. More and more is being spent every year on health care. Stopping rising premiums and out of control procedure costs is in this nation’s best interest if we want to remain healthy and still have money to spend on other government programs.

The introduction of this plan could be very advantageous to Obama, who put health care reform among his top three priorities prior to the election. If done correctly, this could be one less item on the laundry list that Obama will take to the Oval Office with him.

While the tidal waves of the economy are still crashing upon us as a nation, one thing we can do to lighten the burden is support this health care reform. It is long overdue and Main Street, more so than Wall Street, deserves a bailout.

Andrew welcomes your thoughts or comments and can be reached at andrew.hedlund@asu.edu.