Senate Finds Way To Keep Down Cost of Reform

The Senate has been working on ways to make their health reform bill more cost-effective. This week, they announced that they have reached a consensus on keeping the total cost of reform under $1 trillion over 10 years.

According to the New York Times, they accomplished this primarily by making it harder for American families to obtain government subsidies for healthcare. The income thresholds for financial assistance would be decreased, so that families making over 300% of the federal poverty guidelines would be ineligible for government assistance. Additionally, the Senate may also consider limiting tax credits for small businesses that offer health insurance as an employee benefit.

The Senate had been hoping to come to a final agreement on their health reform bill this week, but were unable to do so. However, they are definitely making progress.