BREAKING NEWS: AP Story on Increased Costs Caused by Senate Finance Proposal

The Associated Press is out with another story on the new PricewaterhouseCoopers’ report highlighting the increased costs for individuals and families as a result of proposals from the Senate Finance Committee.  Here are some key excerpts:

  • “…a new accounting firm study that projects the legislation would add $1,700 a year to the cost of family coverage in 2013, when most of the major provisions in the bill would be in effect.  Premiums for a single person would go up by $600 more than would be the case without the legislation, the PriceWaterhouseCoopers analysis concluded.”
  • The study projected that in 2019, family premiums could be $4,000 higher and individual premiums could be $1,500 higher.”
  • It concluded that a combination of factors in the bill — and decisions by lawmakers as they amended it — would raise costs.”
  • “Other factors leading to higher costs include a new tax on high-cost health insurance plans, cuts in Medicare payments to hospitals and doctors, and a series of new taxes on insurers and other health care industries, the report said.”
  • ‘Health reform could have a significant impact on the cost of private health insurance coverage,’ it concluded.”
  • the industry stopped short of signaling all-out opposition.  ‘We will continue to work with policymakers in support of workable bipartisan reform,’ Ignagni said in her memo.”

Full AP Article

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