WASHINGTON — A leading health care bill under consideration in Congress would cost the government an estimated $1 trillion over the next decade and reduce the ranks of the uninsured by about one-third, or 16 million individuals, congressional budget officials said Monday in a preliminary estimate report.
In a letter to Sen. Edward M. Kennedy, D-Mass., Congressional Budget Office Director Douglas W. Elmendorf said the estimate was based on major provisions contained in an incomplete draft of the bill. He noted that "taking all of its provisions into account could change our assessment of the proposal’s effects on the budget and insurance coverage rates though probably not by substantial amounts relative to the net costs already identified.”
The CBO released its preliminary estimate as several congressional committees looked ahead to votes on legislation that President Barack Obama has placed atop his list of domestic priorities.
Ironically, hours later, key House Democrats unveiled a plan to pour nearly $300 billion into physician payments in Medicare over the next decade. Under current law, doctors face a 21 percent cut in Medicare fees in January.
Obama has proposed reducing overall costs within the health care system at the same time coverage is extended to an estimated 50 million who lack it. He has proposed nearly $1 trillion in savings through spending cuts and tax increases.
Many of the cuts would fall on major health care providers and will be difficult to support for many Democrats in Congress.
Eager to minimize the political risk, the White House and top aides on the Senate Finance Committee are both negotiating directly with the pharmaceutical industry, officials said during the day.
by the associated press
In a letter to Sen. Edward M. Kennedy, D-Mass., Congressional Budget Office Director Douglas W. Elmendorf said the estimate was based on major provisions contained in an incomplete draft of the bill. He noted that "taking all of its provisions into account could change our assessment of the proposal’s effects on the budget and insurance coverage rates though probably not by substantial amounts relative to the net costs already identified.”
The CBO released its preliminary estimate as several congressional committees looked ahead to votes on legislation that President Barack Obama has placed atop his list of domestic priorities.
Ironically, hours later, key House Democrats unveiled a plan to pour nearly $300 billion into physician payments in Medicare over the next decade. Under current law, doctors face a 21 percent cut in Medicare fees in January.
Obama has proposed reducing overall costs within the health care system at the same time coverage is extended to an estimated 50 million who lack it. He has proposed nearly $1 trillion in savings through spending cuts and tax increases.
Many of the cuts would fall on major health care providers and will be difficult to support for many Democrats in Congress.
Eager to minimize the political risk, the White House and top aides on the Senate Finance Committee are both negotiating directly with the pharmaceutical industry, officials said during the day.
by the associated press
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