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Article published November 18, 2009

Senate reform bill estimated at $849 billion, aide says


By Matthew DoBias
Posted: November 18, 2009 - 5:30 pm ET
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A sweeping Senate bill to overhaul the U.S. healthcare system will cost roughly $849 billion over the next decade and cover 94% of Americans, according to a senior aide to Senate leaders.

The price tag comes in under the $900 billion ceiling sought by President Barack Obama.

The financial assessment comes from a preliminary analysis made by the Congressional Budget Office. More official details are expected to come later tonight when Senate Majority Leader Harry Reid (D-Nev.) addresses his team of Democrats.

Additionally, the bill is expected to cover 31 million Americans than are now covered, in part by establishing an open marketplace for insurance companies called an exchange.

The bill is expected to reduce the national deficit by $127 billion, the aide said.

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