Better Care Reconciliation Act – Update
Congress has decided to delay the vote on health care reform until further negotiations happen.
On Monday, the CBO announced that an estimated 22 million people could lose coverage over the next 10 years. The reason most would lose coverage is because without subsidies to pay for most of the cost, many Americans would simply cancel their own coverage. This obviously doesn’t help to get Americans on board with reform. But, the cuts to Medicaid will save $321 Billion over the next ten years, which is certainly good news and allows negotiation room for adding other cost prohibitive items to get the votes needed to pass. The Republicans plan to vote on the Bill sometime after the July 4th recess. It appears there is about a 50% chance the bill will pass. Even if Congress passes the Bill, the House of Representative will get a chance to vote on the revised Bill.
Written by: James Day
Vice President of Americanized Benefit Consultants