How Health Care Bill Would Net $81B

(CBS)  Senate Democratic leader Harry Reid said Thursday the Finance Committee will vote on its health care reform plan next week. According to a new report from the non-partisan Congressional Budget Office, the plan meets the president's requirement that it not add a dime to the deficit.

CBS News correspondent Nancy Cordes has more about what's in it - and how much it would cost.

The new cost estimates give health care reform a much-needed boost.

Sen. Max Baucus said that he was "pleased" - pleased because congressional number-crunchers now say the $829 billion price tag for the Finance Committee's bill would be more than offset by fees on drugmakers, taxes on top-dollar insurance plans and trims to Medicare.

The result - a net savings to the government of $81 billion over 10 years.

CBSNews.com Special Report: Health Care

It's estimated the bill would allow 29 million Americans who don't currently have coverage to buy it.

That group includes Javier Salinas. His family of four could get a subsidy of $5,500 a year for health insurance, because they earn less than $88,000 annually.

"I can't sleep thinking if one of my kids is gonna get sick, or something else," said Salinas, the kitchen manager Port of Piraeus restaurant in Washington, D.C.. "But with that help from the government it's a peace of mind."

Senate Health Bill to Cost $829 Billion
Health Care Inches Ahead in the House
Health Care Reform Progress Report

Wealthier Americans would be required to buy insurance or pay a penalty - up to $750 dollars a year - while businesses with more than 50 workers would have to pay up to $400 for every low-income worker they don't cover.

That means the owner of the D.C. restaurant where Salinas works would be exempt, because he only has 32 employees. His responsibilities wouldn't change at all.

"Thank God, thank God they wouldn't change at all because this year was our worst year ever in business," said Frankie Doyle, the restaurant owner.

Republicans still oppose the bill, despite the lower price tag.

"The fact is the numbers are arrived at by taxing businesses, by taxing people who have insurance, as well as cutting benefits for seniors," said Rep. Eric Cantor, R-Va. "That's not an acceptable health care reform recipe."

But the recipe is still being written. This bill is only one of five. It has to be reconciled with the others - so all these figures are bound to change.

[tafhdyd]

I don't know what the fuss is about paying for health care. The republicans constantly preach against anything socialized. Obviously they are not going to use any medicare or social security benefits because that would be socialism which they want no part of. That is over 50 million off the roles which more than pays for the 40 million that need it. If any republican uses medicare they are a true lying hypocrite. Oh, wait, we knew that didn't we.

[midlclass]

lets try this: everybody list what they think should be in a basic healthcare reform bill, let cbs read it and do a spot about it.
1. medicare for the uninsured and underinsured
2. list the poverty level, anybody at or below that gets to choose either the medicare for all or a supplemental.
3 anybody above poverty level pays on a scale related to income either through taxes or directly out of pocket
4 companies pay at least half of the premium depending on size and profit margines. this would be overseen on tax forms and estimated for the next year.
5. doctors and patients make all the decisions on healthcare matters, ins. companies pay the bills
6. excessive profit margines and Ceo wages and benefits' temperly capped and returned to the system until everything balances out.
7. tort reform. resonable limits set for malpractice issues
8. limits set on malpractice ins.
9. poratability of my ins. and healthcare
10. universal health record coding no body chips just a credit type card that access's your record's no card no records this would cover the illegal alien issue. if illegals are treated they do get treated under the medicare for all there home countries are then chared for services rendered
11. goverments ability to negotiate drug price's restored, cap limits and reduce the patent time companies have on newly released drugs
12.other?

[inketolstoy]

Ever notice that the government always give projections of surpluses and budgets eight and ten years in advance. They never tell you what will happen now, or next year. Could there be a reason for that? Maybe... Nah... Anybody remember what the CBO projection for where social security would be now (as predicted eight or ten years ago)? Did they predict that social security outlay would pass income this year?

[midlclass]

I guess here's the big question for Mr cantor, what do consider to be good reform measures? other than the less taxes, more tax breaks tort reform, companies with 50 or more should either pony up and pay half of there employee's health ins, not just 400 dollars look at all the big box stores that work there employee's part time maybe a amendment to include all part time workers to be covered by the employers if the companies don't like it we all go to the public option of extending medicare to all. this is a key issue is that corperate america wants all kinds of corperate welfare. then whine's and cry's that there being abused when asked to pay back to society. the days of 150 million people and a small society are over. were to big to fail on this. if we have to tax everybody business's and the individual to make this work do'it. the public option may also elimante the need for state funded healthcare to the poor, saving money at that level for other things or reduction in state taxes.

[rocketjl]

I need a better understanding of who is going to pay. The smoke and mirrors are taking up too much time to wade through.
1. Hospitals secured a 10-year exemption from cost-cutting recommendations that would be made by an independent federal commission charged with controlling spending in the government's Medicare program.
2. Coal miners, firefighters and others in jobs deemed high-risk are more likely than others with high-cost insurance policies to avoid a new tax.
3. A $750 million annual tax on clinical labs such was dropped after trade groups, including the American Clinical Laboratory Association, objected.
4. Obama has already made a quiet deal with the pharmaceutical companies.
5. Pelosi is going to slip in a 'value added tax'.
6. Obama already plans to take $500B away from medicare.
7. Congress has killed COLA raises for federal folks.
Who is left to pay the health reform bills over the next decade????? Guess.

[BekahKnott]

The Bauccus Bill is a form of risky business. How do we know the full consequences of our actions if this bill goes through. How will the country afford, much less put up with raised taxed to support people who do not even know how to support themselves? I believe the Bill should be considered and thought through a few more times before a final decision. Another idea, what about the people's vote? Do we honestly have a say in anything at all?

[mypatch]

If you want this bill to pass then you better take the health care away from the politicians so they have something to fight for. As long as they don't have anything at stake then they don't have to pass anything do they?

[hungry1968-16]

by anti-global2 October 9, 2009 9:15 AM EDT
it is good to see they are finally looking to make sure this does not add to the deficit, but it still has many problems.
To me the biggest problem is I would not want to switch from my blue cross blue shield personal choice plan to a so called public option plan. I don't believe a public option plan would give me the same quality of coverage for myslef and my family. I have heard from numerous politicians that to keep my plan I may have to pay up to a $2000.00 per year penalty. The reason is they fear upper income people won't switch to a public option plan, and they need people with the ability to pay higher premiums in the public option to offset those that won't be able to pay. If this is truw why should I be penalized? I am not doing anything wrong by providing the best insurance out there for my family.






That's BS.

You won't have to pay anything to keep your plan, and you don't have to switch to the public option, if you don't want to.

If your employer drops health insurance for it's employees, then they'll have to pay an 8% tax.

Whoever told you that must be a republican or a conservative.

[jab232]

If the present trend continues, ten years from now, your private health insurance premium will be double what it is now, for less coverage, and you will still be subject to losing the insurance or your job if you get sick.

Pass a Public Option plan now.

[anti-global2]

it is good to see they are finally looking to make sure this does not add to the deficit, but it still has many problems.
To me the biggest problem is I would not want to switch from my blue cross blue shield personal choice plan to a so called public option plan. I don't believe a public option plan would give me the same quality of coverage for myslef and my family. I have heard from numerous politicians that to keep my plan I may have to pay up to a $2000.00 per year penalty. The reason is they fear upper income people won't switch to a public option plan, and they need people with the ability to pay higher premiums in the public option to offset those that won't be able to pay. If this is truw why should I be penalized? I am not doing anything wrong by providing the best insurance out there for my family.