There is a terrifying new report circulating on Capitol Hill today, just as lawmakers begin another week of wrangling health care legislation. According to this report, the Baucus bill — which is expected to be approved by the Senate Finance Committee tomorrow — would drive up premiums, raise costs, punch your mom, etc.
Terrifying, yes, but at least we can be sure it's true: the study was commissioned by America's Health Insurance Plans, the health insurance industry's lobbying arm, and if anyone knows how health insurance in America works, it's America's Health Insurance Plans, right?
"The overall impact will be to increase the cost of private insurance coverage for individuals, families and businesses above what these costs would be in the absence of reform," said Karen M. Ignagni, president of the trade association. [...]
In addition, the study says, the bill would impose a new excise tax on high-cost insurance policies and new fees on insurance companies. The study, like the Congressional Budget Office, predicts that insurers will pass these costs on to their customers, in the form of higher premiums.
Well, duh. It's not like insurers can pass those costs on to their CEOs in the form of fewer private jets or anything.
Tags: Health Care, Lobbyists