testimony was 32 pages (you can read the full version in PDF format online here), and some of their estimates were a bit shocking
Here's a little tidbit report CBO: .
the total health care spending will reach 18 percent of US gross domestic product in 09. This is a huge $ 2.6 trillion for a year, equivalent to about $ 8,300 per person if you do the math.
What is a little disturbing (at least on a health insurance blog), the witness estimated at least 45 million Americans are uninsured this year as well.
The CBO also warned that if policies regarding health care and health insurance are the same, then in 2017, spending on health care will reach 20 percent of GDP by 2017 and as much as 54 million have no health insurance in 2019.
So how can we avoid this dark future?
according to the CBO, an option to cut expenses includes changing the fee-for services reimbursement system for physicians to a performance pay system. Doctors and hospitals would receive bonuses for efficient and effective care, and conversely, care providers do not do a good job would see their payments cut.
To extend the coverage of health insurance, an idea of the CBO would begin taxing health insurance group by the employer. A tax, the CBO argues, give consumers incentives to seek health insurance plans cost.
Although the evidence explored some health reform options, it also acknowledged that extending coverage and reducing costs of healthcare is walking in the park. Under the terms of the reform, said the report, cost reduction may not be apparent for 10 years.
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