Report Says Healthcare Bill Will Raise Premium Costs For Millions

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Report says healthcare bill will raise premium costs for millions As the debate over the healthcare reform has moved to the Senate floor, a new report from the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) suggests that more than 13 million Americans may see their premiums go up.

Despite claims that the reform is intended to make healthcare more affordable and accessible, the study points out that some 13.3 million individuals—or 17 percent of insured Americans, mainly those who will be required to purchase their own policies—may see their premium increase by between 10 percent and 13 percent, according to media reports.

Upon the release of the report, Senate Minority Leader Mitch McConnell of Kentucky commented that "a bill that’s being sold as a way to reduce costs actually drives them up."

However, the joint report also indicates that the proposed legislation would reduce insurance premiums by up to 3 percent for about 134 million Americans who receive coverage as a job benefit and who comprise the largest component of the health insurance market.

That is why congressional Democrats chose to focus on that figure, prompting Senate Majority Leader Harry Reid of Nevada to state that the analysis "confirms that millions of Americans who lack the necessary coverage to avoid potential financial ruin would have access to more coverage at an affordable price because of our proposal," quoted by TheHill.com.
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