CBO: House GOP Reduces Health Insurance Premiums While Democrat Plans Increase Premiums
Washington, DC – Yesterday, the Congressional Budget Office (CBO) released an analysis of the impact the Senate Democrats’ health care bill would have on health insurance premiums. For those who do not have employer-provided insurance, millions of Americans would face up to 13 percent higher premiums.
To mask the true impact and cost of the proposals, Democrats give away subsidies funded by over $700 billion in higher taxes and one-half trillion dollars in Medicare cuts that threaten the health care services of millions of seniors. Despite these massive tax increases and Medicare cuts, the Democrat bill may even drive up premium prices for small business, often cited as one of the groups most impacted by high health insurance costs.
Under the House Republican Bill, the Common Sense Health Care Reform and Affordability Act, health insurance premiums would be significantly lower for both those without employer provided insurance and those working for a small business (less than 50 employees). Giving taxpayers another reason to cheer, these GOP insurance price reductions were achieved at 1/14th the cost of the Senate Democrat bill and 1/17th of the House Democrat bill – all without raising taxes and without cutting Medicare.