Word: cbo
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Dates: during 2000-2009
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...Given that Medicare reimbursement rates can be 30% lower than those paid by private insurers, such a system could be a powerful one at holding down costs and could save the Federal Government $110 billion over 10 years, according to the most recent estimates by the Congressional Budget Office (CBO). (The Federal Government's costs here would primarily be the subsidies it gives low- and middle-income people to help pay their premiums.) Not surprisingly, that robust public option faces strong opposition from doctors and hospitals, who complain they are already underpaid by Medicare, as well as from insurance companies...
There are also more practical hurdles, including the fact that Reid has not yet received an official analysis of his legislation from the Congressional Budget Office, and may not until late next week. Senators will not want to begin debating the legislation until they have the CBO's projection of how much it will cost and how it will affect the deficit. Between next week's Veteran's Day recess and the subsequent Thanksgiving break, that means it may well be December before the bill even gets to the Senate floor...
...billion in savings over 10 years, while negotiated rates would save only about $25 billion. Pelosi, who is trying to whittle the House bill down from its $1.1 trillion price tag closer to the $900 billion that both Baucus and Obama are targeting, is hoping to use these CBO estimates to convince Democrats who oppose a public option to come on board...
...system will respond to the new rules. Will doctors and hospitals revolt en masse against the changes? Will improved treatment really lead to a significant drop in unneeded procedures? "You need to give things a chance to change," explains Joseph Aslop, a health adviser for the Congressional Budget Office (CBO). "If you put [the pressure] on too hard too fast, things are going to break." (See 10 players in health-care reform...
...Hanging over the debate are the hard facts of the U.S. government's grim fiscal prognosis. According to the CBO, federal spending on Medicare and Medicaid is projected to quintuple, from 4% of the economy in 2007 to 19% in 2082, if nothing changes. At the same time, the government is projected to run unsustainable deficits larger than the growth in the economy for the foreseeable future...