New Health Care Bill Immediately Delivers Medicare Cuts, Tax Increases, Higher Deficit, & Little To No Change In Insurance Coverage

The White House Is Encouraging Democrats To Campaign On The ‘Immediate Deliverables’ In The Reform Bill. (“Matheson On The Fence As Obama Hopes For A Yes From Blue Dogs,” The Salt Lake Tribune, 3/17/10) Below is What the Heath Care bill Immediately Delivers:

IMMEDIATELY: MEDICARE CUTS BEGIN
2010: $100 MILLION IN CUTS TO HOSPITALS, NURSING HOMES, AND HOSPICE
“Medicare… 2010… -0.1 [Billion Dollars].” “TITLE III—Improving The Quality And Efficiency Of Health Care; Subtitle E—Ensuring Medicare Sustainability; 3401 Revision Of Certain Market Basket Updates And Incorporation Of Services Productivity Improvements Into Market Basket Updates That Do Not Already Incorporate Such Improvements (Effect Of Productivity Adjustment For Home Health Included In Estimate For Section 3131)… 2010… -0.1 [Billion Dollars].” (CBO Director Doug Elmendorf, Letter To Rep. Nancy Pelosi, 3/18/10,P.14)

2010-2019: “Medicare… -156.6 [Billion Dollars].” “TITLE III—Improving The Quality And Efficiency Of Health Care; Subtitle E—Ensuring Medicare Sustainability; 3401 Revision Of Certain Market Basket Updates And Incorporation Of Services Productivity Improvements Into Market Basket Updates That Do Not Already Incorporate Such Improvements (Effect Of Productivity Adjustment For Home Health Included In Estimate For Section 3131)… 2010-2019… -156.6 [Billion Dollars].” (CBO Director Doug Elmendorf, Letter To Rep. Nancy Pelosi, 3/18/10, P.14)

THE FIRST OF MORE THAN $520 BILLION IN MEDICARE CUTS BY 2019
(Senate Finance Committee Minority Staff Review Of JCT And CBO Cost Estimates, 3/18/10)
IMMEDIATELY: TAX INCREASES BEGIN
2010: $4 BILLION TAX ON TANNING SERVICES
“The One Tax Increase That Goes Into Effect Soon – In July - Is A 10 Percent Levy On Indoor Tanning Services, Dubbed The ‘Vanity Tax.’” (“Timing Right For Dem Midterm Hopes,” Politico, 3/23/10)
JCT: “Impose 10% Excise Tax On Indoor Tanning Services ... 2010… 4 [Billion Dollars].” (“Estimated Revenue Effects Of The Amendment In The Nature Of A Substitute To H.R. 4872, The “Reconciliation Act Of 2010,” In Combination With The Revenue Effects Of H.R. 3590, The "Patient Protection And Affordable Care Act ('PPACA')," As Passed By The Senate,” Joint Committee On Taxation, P.2, 3/18/10)

THE FIRST OF MORE THAN $560 BILLION IN TAX INCREASES BY 2019
(Senate Finance Committee Minority Staff Review Of JCT And CBO Cost Estimates, 3/18/10)
IMMEDIATELY: BILLIONS ADDED TO THE DEFICIT
2010: $6 BILLION ADDED TO THE DEFICIT
“Table 1. Summary Of Preliminary Analysis Of Health And Revenue Provisions Of Reconciliation Legislation Combined With H.R. 3590 As Passed By The Senate… Change In Deficit… 2010… 6 [Billion Dollars].” (CBO Director Doug Elmendorf, Letter To Rep. Nancy Pelosi, 3/18/10, P.6)

IMMEDIATELY: LITTLE TO NO CHANGE IN INSURANCE COVERAGE
2010: CBO: * MILLION AMERICANS WILL GAIN INSURANCE COVERAGE

“Effects On Insurance Coverage… Change (+ / -) [From Current Law Coverage]
“Medicaid & CHIP … 2010: *”
“Employer … 2010: *.”
“Nongroup & Other … 2010: *.”
“Exchanges … 2010: ZERO.”
“* = between 0.5 million and -0.5 million people.”
(CBO Director Doug Elmendorf, Letter To Rep. Nancy Pelosi, 3/18/10, P.7)

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Tags: government heathcare, tax increases, higher deficit, insurance coverage
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