Washington, DC – Ways and Means Ranking Member Dave Camp (R-MI) today released additional analysis of a Congressional Budget Office (CBO) report showing that the GOP health care reform plan would lower premiums for individuals and families, whether they bought insurance on their own or through an employer.
“Under Republican health care reforms, premiums will go down, making coverage more affordable for families and employers, which is the first step to reducing the number of uninsured Americans,” said Camp. “This proves that Republicans’ common-sense ideas to lowering costs are a better approach than the Democrats’ plan to spend over $1 trillion, increase taxes, cut Medicare by one-half trillion dollars and put the federal government in charge of Americans’ health care.”
According to the CBO analysis, the Republican health care reforms would reduce premiums by up to 3 percent for employees who get insurance through a large business (more than 50 employees), up to 8 percent for Americans without employer sponsored insurance, and up to 10 percent for those working for a small business (50 or fewer employees).
The Republican premium reductions would mean an average annual savings of nearly $1,800 for millions of families.
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Average savings compared to the Democrats’ plan are even larger. According to CBO, the Democrats’ bill would actually increase premiums to at least $15,000. As a result, families could see savings of nearly $5,000 per year under the Republican plan.