WASHINGTON, D.C. -- The House Committees on Ways and Means and Energy and Commerce today released a preliminary estimate from the Congressional Budget Office (CBO) on a portion of the House Tri-Committee health reform discussion draft. The draft proposals included in the estimate would slow spending, yielding more than $500 billion in gross savings to Medicare over ten years while also extending the solvency of the Medicare Trust Fund and providing key payment and delivery system reforms.
Included in the estimates released tonight are important investments in the Medicare program that would fix the deeply flawed physician payment system, close the Medicare prescription drug donut hole, encourage prevention and wellness by eliminating cost-sharing for preventive services, and improve access for low-income Medicare beneficiaries.
The estimates released tonight are limited to costs and savings associated with Medicare included in the discussion draft. The three Committees continue to refine the legislation.
Ways and Means Committee Chairman Charles B. Rangel (D-NY) and Energy and Commerce Committee Chairman Henry A. Waxman (D-CA) issued the following statement on the preliminary estimate of the Medicare provisions:
"The Committees have been working with CBO for several months, along with the Administration, developing policies that are both good for Medicare and provide funding for reforms. This table is one of the many steps in the process. We have many savings items that were recommended by the Administration and the Medicare Payment Advisory Committee, and we are looking forward to working in our Committees to develop the final proposals.
“These estimates show our commitment to strengthening the Medicare program and advancing fiscally-sound health reform that will help all Americans gain access to affordable, quality care that meets their needs."
