MIT Report: Senate Health Reform Bill Will Lower Costs for Better Coverage

November 29, 2009

(ChattahBox)—As Senate lawmakers consume the last of their Thanksgiving turkey this weekend, their thoughts will be on the upcoming debate of the health care reform bill. And amid Republican criticisms of the bill that it would not lower costs, comes a new report issued by a leading MIT economist concluding, that the Democratic Senate health reform plan would not only significantly lower costs, but would also provide Americans more bang for their buck.

Jonathan Gruber, an economist at the Massachusetts Institute of Technology, based his report on the data released by the Congressional Budget Office (CBO). And Gruber found that consumers purchasing non-group coverage under the proposed Senate reforms would pay less for better coverage. Under the Senate bill, Americans purchasing private plans would benefit from reforms doing away with pre-existing condition limitations, a ban on escalating increases and the onerous practice of recession of a policy.

The MIT report released on Friday, entitled, “The Senate Bill Lowers Non-Group Premiums: Updated for New CBO Estimates,” will provide much-needed confirmation that the Senate bill will lower the cost of health insurance over time. And the report is based on the CBO’s own analysis.

The report concluded:

“Analysis of the non-partisan information from the CBO suggests that for those facing purchase in the non-group market, the House bill [Senate] will deliver savings ranging from $200 for singles to $500 for families in today’s dollars – even without subsidies. The savings are much larger for lower income populations that receive premium credits. This is in addition to the higher quality benefits that those in the exchange will receive, with actuarial values for low income populations well above what is typical in the non-group market today. It is also in addition to all the other benefits that this legislation will deliver to those consumers – in particular the guarantee, unavailable in most states, that prices would not be raised or the policy revoked if they became ill.”

Senate Majority Leader Harry Reid (D-NV) will lead the debate on his health care bill starting on Monday.

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Comments

9 Responses to “MIT Report: Senate Health Reform Bill Will Lower Costs for Better Coverage”

  1. Ethics and Government Update November 2009 | Business Ethics Wisdom on November 29th, 2009 12:44 pm

    […] MIT Report: Senate Health Reform Bill Will Lower Costs for Better … […]

  2. Wellescent Health Blog on November 29th, 2009 1:12 pm

    It is good to see that secondary analysis is showing value in this bill for American consumers. If more academic institutions and think tanks can pipe up either way, they can very well contribute to the debate regarding the bill in a way that the Republicans have unfortunately not offered.

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  4. Increase Your Credit Score And Save Money. | Business Blog – A … | Credit Finance Wisdom on November 29th, 2009 2:40 pm

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  7. About insurance premiums, senate health insurance reform, health care reform, senate reform bill | Find me About on December 1st, 2009 3:39 am

    […] (ChattahBox)—As Senate lawmakers consume the last of their Thanksgiving turkey this weekend, their thoughts will be on the upcoming debate of the health care reform bill. And amid Republican criticisms of the bill that it would not lower costs, …Read Original Story: MIT Report: Senate Health Reform Bill Will Lower Costs for Better Coverage &#82… […]

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  9. MIT Joins Democratic Party « Musings on Politics & Life on January 9th, 2010 2:56 pm

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