The Senate Finance Committee’s health reform bill will save the federal government $81 billion over the next 10 years, according to the much-anticipated Congressional Budget Office estimate released this afternoon. CBO found that subsidizing the coverage expansion will cost $518 billion over a decade, partly offset by taxing high-cost insurance plans ($201 billion), trimming Medicare rates “for most services” ($162 billion), and cutting subsidies to the private insurance companies that cover Medicare patients ($117 billion).Good news for several reasons: gives cover to moderate Dems who can now vote yes; gives others some funds to add to the bill where needed, cuts Medicate subsidies to insurance companies. However, it only reduces the uninsured by some 29 million people. But that is a huge start. Now on to the committee vote.
Wednesday, October 07, 2009
CBO Says Finance Health Reform Bill Will Save $81 Billion in a Decade « The Washington Independent
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3 comments:
I'm always a bit sceptical when someone (media, politicians, research agencies etc.) produce these numbers. There's nearly never the method revealed.
I'm not saying the bill is not going to save this kind of money. I'm just sceptical to how accurate the research was.
Lorne
Lorne, you are always right to be a bit skeptical. These figures are the "score," done in a hurry from the Congressional budget office, and amount to their best estimate. Congress has agreed to take their figures for the purposes of further refining the legislation and making sure the President would sign it. And they have a pretty good track record over the years.
thanks for your comment.
Hi Carol,
Well on the one hand I am in favor of the reform myself. Having enough experience with state-run health care system since I've been insurance broker in Canada for many years, I've got plenty of experience to see the pros and cons of the system. So I'm all for it from this point of view. On the other hand, the bill incorporated some features I cannot support (literary euthanasia plus the abortion issue). On the top of that, the discussion is no more about the benefits of the reform, or so it seems, but about being too leftist or too liberal or too whatever. Sad sad sad.
Sorry for my little outburst... just frustrated.
Lorne
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