Wednesday, October 07, 2009

Senate HealthCare Costs are In; $829 billion Over 10 Years

As long as it doesn't contain the Post Office Insurance Company of America then I can live with that cost.

Health care legislation drafted by a key Senate committee would expand coverage to 94 percent of all eligible Americans at a 10-year cost of $829 billion, congressional budget experts said Wednesday, a preliminary estimate trumpeted by the White House and likely to power the measure past a major hurdle within days.

The Congressional Budget Office added that the legislation would reduce federal deficits by $81 billion over a decade and probably lead to "continued reductions in federal" red ink in the years beyond.

That $81 billion savings sounds pretty small but hopefully Medicare and Medicaid fraud can be worked out of the system and provide even more savings. In any case in 2013 there will be a scramble for private insurance as everyone will either be covered or have to pay fines.

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