House Democrats' newly unveiled healthcare reform bill will cost about $894 billion over the next 10 years -- but a combination of tax increases and spending cuts keep the bill deficit neutral, the Congressional Budget Office revealed on Thursday.
That means the bill, unveiled earlier today by House Speaker Nancy Pelosi (Calif.), satisfies the two cost criteria President Barack Obama established for healthcare reform earlier this year.
A few highlights from the CBO score:
- The bill would reduce the ranks of the uninsured non-elderly by 36 million, "leaving about 18 million non-elderly residents uninsured (about one-third of whom would be unauthorized immigrants).
- Roughly 21 million would purchase insurance on their own through insurance exchanges.
- Total enrollment in the public plan would be about 6 million, or one-fifth of the total consumers shopping in the insurance exchange.
- State spending on Medicaid would increase on net by about $34 billion between 2010 and 2019.