Four months after President Obama signed the historic health-reform bill into law, House Democrats are officially plotting to bring back the government-run health plan that was stripped out under political pressure.House members introduced the Public Option Act Wednesday evening to create a Medicare-like public plan that would compete with private insurance plans. Rep. Lynn Woolsey, D-Calif., is the bill's main sponsor. Rep. Jim McDermott, D-Seattle, is among the 128 co-sponsors.
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On Thursday afternoon, Woolsey released an analysis by the nonpartisan Congressional Budget Office (CBO) that the new public option would reduce the federal budget deficit by $53 billion between 2014 and 2019.
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Premiums would be about 5 percent to 7 percent lower on average than for comparable policies sold by commercial insurers.
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The CBO also estimates that a government-run health plan would attract a third, or 13 million, of the 38 million Americans who are expected to buy coverage through the insurance exchanges established under the new law.
Well, that ought to kill the bill. Death by insurance industry lobbyists .
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