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.