Community | July 19, 2009 | 9 comments

CBO scores confirm deficit neutrality of health insurance reform bill

source: http://speaker.house.gov/blog/?p=1872

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WakeUpPeople
The Congressional Budget Office (CBO) released estimates this evening confirming for the first time that H.R. 3200, America’s Affordable Health Choices Act, is deficit neutral over the 10-year budget window - and even produces a $6 billion surplus. CBO estimated more than $550 billion in gross Medicare and Medicaid savings. More importantly, the bill includes a comprehensive array of delivery reforms to set the stage for lowering the future growth in health care costs.

Net Medicare and Medicaid savings of $465 billion, coupled with the $583 billion revenue package reported today by the House Committee on Ways and Means, fully finance the previously estimated $1.042 trillion cost of reform, which will provide affordable health care coverage for 97% of Americans.

“This fulfills the strong commitment of the President and House leadership to enact health reform on a deficit-neutral basis,” said Chairmen Henry A. Waxman, Chairman Charles B. Rangel, and Chairman George Miller. “The reforms included in this legislation will help control health care costs and expand access to quality, affordable coverage to all Americans in fiscally-responsible manner.”

The estimates also cover important reinvestments in Medicare and Medicaid, including phasing in the closing of the “donut” hole in the Medicare drug benefit. The bill’s long-term reform of Medicare’s physician fee schedule to eliminate the potential 21 percent cut in fees, and put payments on a sustainable basis for the future, will cost about $245 billion. Those costs, however, are not included in the net calculations above, as they will be absorbed under the upcoming statutory “pay go” legislation that is pending in the House.
  1. groups:
    Community,   Current Democrats
  2. tags:
    Democrats,  Health Care Reform,  CBO,  Pay as you go
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9 comments // CBO scores confirm deficit neutrality of health insurance reform bill

  • wayseeker
    • 0
      wayseeker  

    • Other countries believe that a profit should not be made out of health care. Capitalism is good but why should everything in this country be about making money?

    • 2 years ago
  • SeaJade
    • 0
      SeaJade  
    • wayseeker:

      Yes, it gets exhausting and takes the fun and spontaneity out of everything (and then there is the subject of compassion, caring, kindness and generosity), unless of course, one's internal greed function (which is actually a very insecure person) is amped up to high and therefore one's internal mind will always running its calculator and therefore be expressing itself as a calculating person. So then that is all life is about... and there is the fun and joy for those people (but is it really?) .

    • 2 years ago
  • kennymotown
    • 0
      kennymotown  

    • The Republican party is showing their true colors, out of ideas and representing the rich insurance company's and not the people. Now if you can't remember this next time around then try looking into your kids face and telling him why he can't go see a doctor in the future.

    • 2 years ago
  • wayseeker
    • 0
      wayseeker  

    • Congressional Republicans are trying to stall long enough to prevent the bill from passing. As usual they are putting dirty politics ahead of providing the country decent health care.

    • 2 years ago
  • vladbox
    • 0
      vladbox  

    • BUT! Was not the CBO report earlier this week that deterred some moderate republicans and centrist democrats from passing the health care legislation?

      What gives!

    • 2 years ago
  • artemis6
  • WakeUpPeople
    • 0
      WakeUpPeople  

    • Don't worry neocons, you can still hold on to the fear that you will have to wait for healthcare. Just know that the waiting room horror stories you keep hearing from Canada are only coming from 10% of the participants because the other 90% are very happy with the system. The US is currently at 43% satisfied with the overall healthcare system. But, in all fairness, maybe the Canadians are just a more patient and compassionate people.

    • 2 years ago
  • kennymotown
  • jh64487
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