On The New CBO Score on Health Insurance Reform Legislation
Saturday, July 18th, 2009 by Speaker PelosiThe CBO report confirms that The America’s Affordable Health Choices Act delivers on a critical promise President Obama and the House have made to the American people: health insurance reform legislation will be paid for.
After an historic day yesterday when two out of three committees in the House passed the legislation, Congress has made major progress on health insurance reform that will put patients and doctors back in charge, ensure quality, affordable, and accessible health care for America’s middle class and control the spiraling costs of health care through innovative reforms.
As the legislative process moves forward, we will continue to look for ways to squeeze more savings out of the system.
CBO Scores Confirm Deficit Neutrality of Health Insurance Reform Bill
Saturday, July 18th, 2009 by KarinaNews from the Energy & Commerce, Ways & Means, and Education & Labor Committees on the CBO estimates released last night on America’s Affordable Health Choices Act:
July 17, 2009
Washington, D.C. — 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.
Learn More About America’s Affordable Health Choices Act
Friday, July 17th, 2009 by KarinaLearn more about America’s Affordable Health Choices Act of 2009 (HR 3200) which will curb out-of-control costs, encourage competition among insurance plans to improve choices for patients, and expand access to quality, affordable health care for all Americans.
Summary Documents:
Overview:
What’s in the Health Care Reform Bill for You?>>
Paying For Health Care Reform>>
Controlling Health Care Costs>>
Support:
Revenue Provisions:
Health Care Surcharge and Households>>
Health Care Surcharge and Small Businesses>>Health Bill Would Raise Less Revenue Than Reagan and Bush Tax Increases>>
Fact Sheets - Health Reform at a Glance:
The Health Insurance Exchange>>
Public Health Insurance Option>>
Consumer Protections and Insurance Market Reforms>>
Strengthening the Nation’s Health Workforce>>
Protecting Program Integrity by Preventing Waste, Fraud and Abuse>>
Improving the Medicare Part D Drug Program>>
Maintaining and Improving Medicaid>>
Around the Web:
Get breaking updates on Twitter at twitter.com/healthreformnow>>
Visit our Facebook page at www.facebook.com/HealthReform>>
Latest News:
The Gavel: We Are Going To Get This Done (7/17/09)>>
The Gavel: American Health Insurance Reform Hits Another Historic Milestone (7/17/09)>>
Pelosi Remarks at Press Conference on Introduction of Health Care Legislation (7/14/09)>>
Pelosi Remarks at Press Conference on Health Care Reform for the Middle Class (7/13/09)>>
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