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Nov 6, 2020 · Joe Biden has proposed a health care plan that could cover 25 million uninsured Americans. The question now that he’s won the White House is whether he can pass it. The Democratic...
- Summarizing The Biden Health Care Plan
- Details of The Biden Health Care Plan
- What Is The Fiscal Impact of The Biden Health Care Plan?
- What Are The Other Impacts of The Biden Health Care Plan?
- Conclusion
- Appendix: Comparing Our Estimates to The Biden Campaign’S Estimates
Vice President Biden has proposed to expand the Affordable Care Act, establish a new public insurance option, lower the Medicare enrollment age, increase the affordability of long-term care, and increase other health care spending. He would offset the costs of these proposals by containing and reducing spending on prescription drugs and ending surp...
Coverage Expansion and Other Spending
Vice President Biden has proposed expanding health care coverage by increasing the size of ACA subsidies, implementing a public option to compete with private insurance, lowering the Medicare enrollment age, increasing access to and affordability of long-term care and insurance, and expanding health funding for rural communities and mental health care. We estimate these policies would have a gross cost between $2.05 trillion and $2.5 trillion, with a central estimate of $2.25 trillion. Biden’...
Cost Reduction
While Vice President Biden would increase overall health care spending, he proposes several measures to reduce both private and public health care costs. He would reduce prescription drug prices in a number of ways – most directly by restricting the launch price of new drugs based on an international average – and reduce other costs as well. We estimate these proposals would save between $350 billion and $600 billion over a decade, with a central estimate of $450 billion. To reduce prescripti...
Direct Offsets
Vice President Biden’s health spending proposals would be partially offset by changes in health-related revenue. Expanding subsidized coverage would reduce employer-provided health coverage and thus reduce the cost of tax breaks associated with that coverage. We estimate this would save about $300 billion over a decade. By expanding coverage in the exchanges and creating a public option, Biden would reduce the number of Americans who receive health insurance benefits through their employer’s...
Under our central estimate, we find Vice President Biden’s health plan would increase deficits by $850 billion over a decade. The plan would reduce deficits by $250 billion under our low-cost estimate and increase deficits by $1.35 trillion under our high-cost estimate. Under our central estimate, gross costs of $2.25 trillion would be partially of...
While our analysis is focused on the fiscal impact of Vice President Biden’s health care plan, it is critical to also consider other implications. These include, but are not limited to, the plan’s impact on health insurance coverage, national health expenditures, distribution of spending, and economic performance, as well as its effect on quality o...
Vice President Biden has put forward a comprehensive health care plan that builds on the Affordable Care Act, a program he helped to shepherd into law as Vice President during the Obama Administration. While the plan would most likely increase deficits over the next decade, it would also reduce out of pocket costs and premiums for most individuals ...
Excluding the effects of lowering the Medicare age, Vice President Biden has said his health care plan would cost $750 billion and that his revenue offsets would raise over $1.3 trillion.27The campaign has not clarified what is counted as its health plan or what budget window its estimates cover. A reasonable assumption would be that the campaign’s...
Aug 10, 2021 · August 10, 2021. FACT SHEET: Biden- Harris Administration Lowers Health Care Costs. Briefing Room. Statements and Releases. Vice President Harris Outlines How Build Back Better Lowers...
Apr 29, 2021 · His administration has already taken multiple steps to reverse efforts by Trump to destroy the Democrats' landmark health care law. Biden reopened the federal Affordable Care Act exchange...
Oct 22, 2020 · October 22, 202012:31 PM ET. Selena Simmons-Duffin. Enlarge this image. President Trump and former Vice President Joe Biden have widely divergent views on health care issues. Patrick...
Mar 25, 2021 · President Joe Biden announces extension for enrolling for insurance through the ACA. The new rules. But the ARP broadens subsidies for every income group. Almost everyone is now eligible for...
PRESIDENT BIDEN’S PLAN TO PROVIDE DIRECT RELIEF TO AMERICANS, CONTAIN COVID-19, AND RESCUE THE ECONOMY. The American Rescue Plan is delivering direct relief to the American people, rescuing the...
