CBO Affirms H.R. 3962 Will Control Costs, Lower Premiums

[SpartanDem]

I wouldn't be surprised if it does even better as CBO tends to be conservative in their estimates

Today the Congressional Budget Office (CBO) released estimates confirming that H.R. 3962 - the Democratic health reform bill - will succeed in controlling costs that will be reflected in individual and family premiums. CBO found that by 2016, premiums will be $5,300 for an individual and $15,000 for a family of four in the Exchange. This is well below the $24,000 family premium expected if Congress fails to act and premiums grow as projected under current law.

"This underscores that this legislation will control health care costs and lower health care premiums for families and individuals relative to today," said Chairman Henry A. Waxman, Chairman Charles B. Rangel, and Chairman George Miller. "The Affordable Health Care for America Act will make health insurance and health care accessible for millions of low-income and middle-class families who currently lack affordable coverage."

A Kaiser/HRET survey found that in 2009, premiums for employer-sponsored coverage are $4,824 for individuals and $13,375 for family policies. Current employer insurance is comparable to the coverage individuals and families will be able to expect in the Exchange with the bill's insurance reforms and consumer protections in place. One recent projection estimated that health insurance premiums in 2016 will be over $8,000 for individuals and over $24,000 for families if health reform is not enacted.

CBO additionally recognizes that the House affordability credits and insurance reforms offer more help to more people than the Senate Finance Committee proposal. These provisions work in tandem to make it more attractive and likely for all people, including older Americans and those with pre-existing conditions, to get insurance instead of remaining uninsured when compared to the Senate Finance Committee proposal. The House legislation insures seven million more individuals, reaching 96 percent of all Americans.

http://energycommerce.house.gov/index.php?option=com_content&view=article&id=1801:cbo-affirms-hr-3962-will-control-costs-lower-premiums&catid=122:media-advisories&Itemid=55


CBO Analysis: http://energycommerce.house.gov/Press_111/health_care/hr3962_CBOLetter.pdf

[HughMoran]

1. Good to see some positive numbers

I don't think this bill is as bad as many here are portraying it.

[Cant trust em]

2. We sure do like our polemics here at DU. nt

[Skittles]

3. $5,300 for an individual and $15,000 for family of four

[HughMoran]

4. $40,000 for a family of 4 is what my small company is offering

Suck on that.

[eridani]

6. Right. Maintaining the current outrageous costs is what everybody wants

And then the fuckers say "Take this, or it will be even more expensive."

[eridani]

5. Unless you are old, but not old enough for Medicare

Then you are fucked.

Ans since when is $5000/year reasonable for anyone?

[HughMoran]

7. Compared to $40,000/year (family), it is

You are really going apeshit attacking anybody who praises this bill - I hope you realize that in the best case scenario (lots of positive amendments) that you're not likely to ever be happy in the end.

[ej510]

8. $5,300 is alot of money.

[HughMoran]

10. Yes it is, and it's more than the $40,000/year that I will have to pay if reform isn't passed

So, I guess I shouldn't complain :(






perhaps I should add this: :sarcasm:

[TheKentuckian]

13. We currently spend like $6,500 per person with 45 million on the outside looking in

Not to mention the 3X inflation yearly increase. If cost were reduced to an average of $5,300 per that would be an astounding accomplishment.

What do you think it should cost and how do we reach that pricepoint?

[eridani]

9. My husband is now on Medicare. He's doing just fine.

I'd support the legislation if it allowed me to do the same, instead of stripping most of our discretionary income. And no, I wouldn't stop working on health care reform just because my situation had been taken care of.

The positive amendments are expensive balsamic vinegar wasted on poison ivy salad.

[bornskeptic]

14. Medicare costs a lot more than $5300 per year.

In 2009 Congress allocated $408 billion to provide coverage for about 43 million enrollees, which is about $9500 per enrollee per year. It seems you're just saying you want free healthcare. Who doesn't? Maybe it seems minor to you, but the difference between $5300 per year and $8000 per year is huge for many of us here in the real world.

[SpartanDem]

12. 5,300 is the average

go to last page of the report, they estimate in 2016 someone 150-200% of poverty level would pay a total 1,500 premiums plus cost sharing.

[majamay]

11. The reduction comes somewhat close to Obama's promised $2,500 savings for the typical family

Doing the math, premiums for a typical family would decrease by around $1700, compared to the $2,500 Obama promised during the campaign.
That's not amazingly close to the goal but not bad either. Plus it's only an estimate. We'd have to wait and see if the savings are probably even greater than that.

[majamay]

15. Wait a second. I made a mistake

In fact, premiums would be higher in 2016 than they are now for a typical family, because Kaiser says the figure today is $13,750 and the House bill would make them $15,000. So Obama's promise would have been broken if that's the case, since he told us premiums would decrease by $2,500 by a typical family.

[SpartanDem]

16. kicking

[HughMoran]

17. Good idea.