Senate Finance Committee Set To Vote on Healthcare Reform Bill
Later this week, the Senate’s Finance Committee will vote on the proposed healthcare reform bill, estimated to cost $829 billion over 10 years. If the committee approves the measure, which it is expected to, the bill will then be merge with the version that has already been passed by the Senate’s health committee.
On the heels of this vote, a trade association made up of a number of health insurers, released a report sharply criticizing the reform bill, stating that the current legislation would lead to a rise in insurance premiums of $4,000 by 2019. The White House and consumer groups blasted the America’s Health Insurance Plans’ report calling it misleading.
While the insurance industry had pledged support earlier in the year for healthcare reform, that support has appear to have wavered in recent months. Insurers are at odds with Congress over a weak mandate to purchase coverage in exchange for the abandonment of the practice of denying coverage and charging higher premiums for individuals with pre-existing conditions.
While the Senate version doesn’t contain the much criticized “public” option, there is a strong possibility that the House version will contain it and it will be interesting to see what happens the committee to reconcile the two versions meets.
