Congressional Budget Office Letter to Chairman Baucus of the United States Senate Committee on Finance October 7, 2009 re: America’s Healthy Future Act

Authors: Douglas Elmendorf
Publication Year: 2009
Last Updated: 2016-01-22 12:56:33
Journal: NA
Keywords: CBO, Congressional Budget Office, Joint Committee on Taxation, JCT, America's Healthy Future Act of 2009, insurance exchanges, Medicaid, Medicare, HCR, Health Care Reform

Short Abstract:

The Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation (JCT) have completed a preliminary analysis of the Chairmans mark for the Americas Healthy Future Act of 2009, incorporating the amendments that have been adopted to date by the Committee on Finance. That analysis reflects the specifications posted on the committees Web site on October 2, 2009, corrections posted on October 5, and additional clarifications provided by the staff of the committee through October 6. CBO and JCTs analysis is preliminary in large part because the Chairmans mark, as amended, has not yet been embodied in legislative language. 

Abstract:

The Congressional Budget Office (CBO) and the staff of the Joint Committee on Taxation (JCT) have completed a preliminary analysis of the Chairmans mark for the Americas Healthy Future Act of 2009, incorporating the amendments that have been adopted to date by the Committee on Finance. That analysis reflects the specifications posted on the committees Web site on October 2, 2009, corrections posted on October 5, and additional clarifications provided by the staff of the committee through October 6. CBO and JCTs analysis is preliminary in large part because the Chairmans mark, as amended, has not yet been embodied in legislative language. Among other things, the Chairmans mark, as amended, would establish a mandate for most legal residents of the United States to obtain health insurance; set up insurance exchanges through which certain individuals and families could receive federal subsidies to substantially reduce the cost of purchasing that coverage; significantly expand eligibility for Medicaid; substantially reduce the growth of Medicares payment rates for most services (relative to the growth rates projected under current law); impose an excise tax on insurance plans with relatively high premiums; and make various other changes to the Medicaid and Medicare programs and the federal tax code.

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