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Senate Finance Committee Health Reform Bill Is Fiscally Responsible

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  • Senate Finance Committee Health Reform Bill Is Fiscally Responsible

    Senate Finance Committee Health Reform Bill Is Fiscally Responsible

    A fundamental principle of the bill that the Senate Finance Committee approved today is that it is budget neutral — that is, its costs are fully offset. It pays for the costs of expanding health coverage to the uninsured by redirecting spending and tax subsidies from less productive uses elsewhere in the health sector.

    Several of the offsets are likely to help slow the rate of growth of health care costs over time. For example, the bill would impose an excise tax on insurance company offerings of high-cost plans, limit tax subsidies provided to flexible spending accounts, eliminate the overpayments that private insurers receive through the Medicare Advantage program, and reduce the cost of prescription drugs in Medicaid.

    Policymakers should consider including additional offsets as well, which would enable them to strengthen the subsidies designed to help low- and moderate-income Americans comply with the bill’s mandate that they obtain health coverage. The subsidies in the current bill would likely prove insufficient to make coverage affordable for a number of low- and moderate-income people with incomes modestly above the poverty level. [1] If, on the other hand, policymakers scale back the proposed offsets (some of which are bound to draw criticism from interests that benefit from current health subsidies that are inefficient), that would likely force policymakers also to scale back the assistance for low- and moderate-income people, making coverage still less affordable for them under the new system.

    http://www.cbpp.org/cms/index.cfm?fa=view&id=2920

  • #2
    News Flash for Fred ---

    You need to lay off the Hallucinogens dude!
    Jubilant Patriotic Republican

    America gave Obama the benefit of the doubt when they elected him. Obama is now giving America the doubt of the benefit of his governance......Change you can bereave in!..JPR

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    • #3
      Originally posted by JPR View Post
      News Flash for Fred ---

      You need to lay off the Hallucinogens dude!
      Right, 'cause Fred wrote that article, didn't he?
      ...hunter of the shadows is rising...

      Comment


      • #4
        Citing an article from the "Center on Budget and Policy" is about as definitive as citing one from Media Matters or Huffington Post. Or any conservative commentator for that matter. Slanted is slanted.

        Heck, the Center on Budget and Policy is probably loosely affiliated with ACORN or one of its branches.
        "Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince" - Unknown Author
        ______________________________________________

        "That government is best which governs the least, because its people discipline themselves." - Thomas Jefferson
        ______________________________________________

        “There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.” - John Adams

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        • #5
          If you read the bill you will find all kinds of good things. One being the highest required level of protection is 90% of all medical bills being covered. I always compare what insurance is offered to what I have and what medical issues I have had done. In my case my wife would still have the tumor in her head, because we could not afford to pay the 10% co-pay for that surgery. Something else I noticed when perusing it was a fee for doing business. The fee was equal to the percentage of the health insurance market the company controlled multiplied by 6.9 trillion. So if a company collected 1/3 of all health insurance premiums they would have to pay 2.3 trillion just in fees to stay open. That does not include taxes and is collected before taxes are figured. I don't know how much money is collected form health insurance but it seems that would be a very large fee just to stay open. If the company can't pay the fee they can't write policies. It seems like a way to get rid of the smaller companies to thin the market.
          But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new guards for their future security.

          For the intelectually challenged: If the government screws the people enough, it is the right and responsibility of the people to revolt and form a new government.

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          • #6
            Originally posted by kc12 View Post
            If the company can't pay the fee they can't write policies. It seems like a way to get rid of the smaller companies to thin the market.
            Insurance spreads risk, why would they ever need to pay out all claims at once? And when has reducing competition lowered the cost of anything?

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            • #7
              Originally posted by kc12 View Post
              Something else I noticed when perusing it was a fee for doing business. The fee was equal to the percentage of the health insurance market the company controlled multiplied by 6.9 trillion. So if a company collected 1/3 of all health insurance premiums they would have to pay 2.3 trillion just in fees to stay open. That does not include taxes and is collected before taxes are figured. I don't know how much money is collected form health insurance but it seems that would be a very large fee just to stay open. If the company can't pay the fee they can't write policies. It seems like a way to get rid of the smaller companies to thin the market.
              How could you possibly call that a good thing? That mechanism is built in the bill specifically to destroy the private insurance companies so that the government option becomes the only option. Its a back door approach to creating a single-payer system....
              Originally posted by kontemplerande
              Without Germany, you would not have won World War 2.

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              • #8
                Originally posted by SRT936 View Post
                How could you possibly call that a good thing? That mechanism is built in the bill specifically to destroy the private insurance companies so that the government option becomes the only option. Its a back door approach to creating a single-payer system....
                You say that like it would be a bad thing.

                Comment

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