As the Senate continues debate on the Patient Protection and Affordable Care Act, the Center for American Progress Action Fund and the Commonwealth Fund released a report on Monday showing that the cost-containing impacts of the Senate and House reform proposals would be even greater than analyses have shown to date. By taking into account the implications of important research not reflected in previous analyses by the Congressional Budget Office (CBO) and the Centers for Medicare and Medicaid Services (CMS), the new report estimates that the Senate health reform proposal will result in:
- Total savings of $2,500 on health care spending for the typical family by 2019;
- Deficit reduction of up to $409 billion over ten years (nearly $280 billion more than CBO estimates); and
- Medicare savings of $576 billion (nearly $200 billion more than CBO estimates).
This is great news for all Americans. As the report’s authors point out, "Fortunately, the bills currently under consideration offer a significant first step toward bending the health care cost curve for the federal government and families and yield economic benefits."