The Congressional Budget Office was kind enough to tell us just waht HCR will mean for all of us if the reconciliation bill is passed by the senate. A summary of their findings below the fold.
If enacted, the reconciliation bill combined with the Senate-passed bill would, from 2010-2019:
-Spend $938 billion on expanding insurance coverage, including $464 billion in subsidies to help uninsured people buy coverage. This could extend coverage to 32 million Americans who dont currently have coverage.
- Would require American's in specific income brackets to obtain coverage or face $695 tax penalties. Much of the money in the bill will be used to subsidize families at incomes of up to $88,000 a year pay their premiums.
- Expand Medicaid coverage to 16 million additional people.
- Require many employers to offer coverage for their workers.
- Collect $69 billion in penalties from uninsured individuals and employers for non-coverage.
- Provide coverage through an insurance exchange to 24 million people.
- Reduce the number of uninsured by 32 million people, but leave 23 million (including illegal immigrants) not covered.
- Cut Medicare spending by $455 billion from currently-projected levels.
- Not affect next month’s scheduled 21 percent cut in payment rates to doctors who treat Medicare patients.
- Produce a net reduction in federal deficits of $143 billion.
*Source: Congressional Budget Office (http://cboblog.cbo.gov/?p=546)