The Congressional Budget Office released it's preliminary numbers for Senator Max Baucus's health care proposal yesterday. The CBO does not normally project beyond 10 years. Unless otherwise stated the number below are for FY 2010 to FY 2019. pdf
- $829,000,000,000.00 in additional spending.
- 25,000,000 non-elderly residents to remain uninsured.
- $201,000,000,000.00 in higher excise taxes on existing health care plans.
- Medicare will face cuts of $404,000,000,000.00. $133,000,000,000.00 will be from the “Medicare Advantage Program.”
- Medicare and Medicaid payments to hospitals would be reduced by $45,000,000,000.00.
- Costs grow at over 8% per year after 2019.
- Excise taxes will grow between 10% and 15% per year after 2019.
- “Other Taxes” will reach $52,000,000,000.00 per year by 2019 and increase at 10% per year after 2019.
- Reimbursement rates to physicians from Medicare would be reduced by 25% in FY2011 alone. These rates will never be restored.