WASHINGTON, D.C. — Most health insurance premiums would fall or remain steady if health-care reform legislation before the Senate is adopted, according to a report released today by the non-partisan Congressional Budget Office.
Those who get their insurance through large group plans, such as most employer-purchased health coverage, would see rates fall up to 3 percent. Those in small group plans would see their rates stay mostly the same, while those eligible for federal subsidies that buy individual plans would see a drop of more than 50 percent. The report measured cost changes by 2016.
For those that buy individual plans and aren’t eligible for subsidies, however, rates would rise between 10 and 13 percent due largely to mandated increases in coverage. About 14 million people would be hit by those rate increases.
For a detailed analysis of the report by the non-partisan Kaiser Family Foundation, click here. The CBO report is here.
Since the insurance industry has raised premiums every year without fail for a number of years beyond memory, it is unlikely to hold anything “steady” beyond Year I. It will find “justification” each year for its desperate desire to serve its customers better.