CBO Releases Analysis of Finance Committee Health Care Reform Bill
The Congressional Budget Office (CBO) has released the preliminary analysis of the completed specifications for the Finance Committee’s Chairman’s mark for proposed health care legislation.
According CBO’s assessment, enacting the Finance Committee’s proposal would result in a net reduction in federal budget deficits of $49 billion over the next decade. The number of nonelderly uninsured would go down by 29 million by 2019, leaving roughly 25 million residents still uninsured (approximately one-third of them would be unauthorized immigrants).
The reform plan would establish a mandate for most legal residents, set up insurance exchanges, expands eligibility for Medicaid, reduces the growth of Medicare payment rates, imposes an excise tax on insurance plans with high premiums, and makes other changes to Medicare and Medicaid through the tax code.