SUBMITTED NEWS RELEASE
WASHINGTON, DC–Sen. Harry Reid released the following statement today about the recent CBO analysis regarding how the Patient Protection and Affordable Care Act would affect the rising cost of premiums:
“One of the reasons that the Senate has made health insurance reform a top priority is because of skyrocketing health insurance premiums that are breaking the backs of American families. The most recent analysis that we received from the CBO today strengthens our belief that the Senate reform proposal will bring security and stability to American families and will stem the tide of rising premiums.”
“Most Americans will see lower premiums as a direct result of reform. In addition, small businesses would see a reduction in premiums for their employees because of the tax credits included in the Senate proposal. Today’s analysis confirms that millions of Americans who lack the necessary coverage to avoid potential financial ruin would have access to more coverage at an affordable price because of our proposal.
“Today, we also received analysis from an MIT economist who has reviewed our bill and concluded that it will help Americans pay less and get more health insurance coverage. His findings show that while the cost of private insurance continues to rise, the new health-insurance Exchanges in the Senate proposal will save hundreds–and in some cases, thousands–of dollars annually.
“Our caucus remains energized by the strong momentum for reform. I look forward to continuing to strengthen our proposal through a spirited floor debate as we work to deliver reform to the American people.”