UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of one quarter of America's presidencies and edited alternative journals since 1964. The Review has been on the web since 1995. See main page for full contents

September 11, 2009

TALK ABOUT EARMARKS: OBAMA HEALTH CARE PLAN FOR GIVE INSURANCE COMPANIES $100 BILLION A YEAR

CNN, June 15 - Two key proposals to improve access to health insurance could reduce the ranks of the uninsured but cost $1 trillion over 10 years, according to preliminary estimates by the Congressional Budget Office.

The agency estimated that the exchange and subsidies could reduce the number of uninsured people by roughly 16 million by 2015. It is estimated there would otherwise be 51 million uninsured that year. . .

Under the bill, the federal government would give grants to states to set up insurance exchanges that consumers could use to comparison shop for health insurance. And it would offer subsidies of varying levels to help families with incomes up to 500% of poverty level (roughly $110,000) to pay for coverage.

The federal government would also subsidize small businesses that offer health benefits but have workers with low wages.

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