GOP Plan Does More To Reduce Health Care Costs

Press Release

Congressman Vern Buchanan (FL-13) said today that independent analysis of the Republican health care plan found it would do more to reduce health care costs than the Democrats' bill. The non-partisan Congressional Budget Office (CBO) says insurance premiums for many families would be nearly $5,000 less expensive under the Republican bill than under the Democrats' plan.

"This is a common sense bill that would increase access to affordable health care," said Buchanan. "The bill would do more to reduce health insurance costs for individuals and small businesses -- and it would reduce costs without opening the door to a government takeover of health care."

According to the CBO, the Republican plan supported by Buchanan would reduce health care premiums by up to 10 percent and lower federal deficit by $68 billion over the next 10 years. Under the GOP plan health insurance rates would drop by seven to 10 percent for small businesses and by five to eight percent for individuals.

The 10-year GOP bill would cover people with pre-existing conditions, allow insurance to be sold across state lines, and create incentives for small businesses to offer health care at lower prices. It would also limit frivolous lawsuits, which would result in an estimated $41 billion in savings.

The Democrats 10-year bill would establish a government-run insurance plan, require individuals to obtain insurance and employers to provide it, and provide tax subsidies to help the poor and middle class obtain coverage.

They also estimate that the Republican plan would cost $61 billion compared to the $1.05 trillion they estimated the Democrat bill would cost. To pay for their plan, the Democrats bill would cut Medicare for seniors and increase taxes by $750 billion.

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