Senate Health Reform Bill is a “Major Step Forward”
President Obama spoke to reporters in the Diplomatic Reception Room this afternoon about the historic activities happening around health insurance reform and climate change. Here’s an excerpt from the President's remarks:
…On health care, with today’s developments it now appears that the American people will have the vote they deserve on genuine reform that offers security to those who have health insurance and affordable options to those for do not. And so I want to thank Senator Harry Reid and every senator who’s been working around the clock to make this happen.
There’s still much work left to be done, but not a lot of time left to do it. But today is a major step forward for the American people. After a nearly century long struggle we are on the cusp of making health care reform a reality in the United States of America.
As with any legislation, compromise is part of the process. But I'm pleased that recently added amendments have made this landmark bill even stronger. Between the time the bill passes and the time when the insurance exchange gets up and running there will now be penalties for insurance companies that arbitrarily jack up rates on consumers. And while insurance companies will be prevented from denying coverage on the basis of pre-existing conditions once the exchange is open, in the meantime there will be a high risk pool where people with pre-existing conditions can purchase affordable coverage.
And a recent amendment has made these protections even stronger. Insurance companies will now be prohibited from denying coverage to children immediately after this bill passes. There’s also explicit language in this bill that will protect a patient’s choice of doctor. And small businesses will get additional assistance as well.
These protections are in addition to the ones we’ve been talking about for some time. No longer will insurance companies be able to drop your coverage if you become sick and no longer will you have to pay unlimited amounts out of your own pocket for treatments that you need.
Under this bill families will save on their premiums; businesses that will see their costs rise if we don’t act will save money now and in the future. This bill with strengthen Medicare and extend the life of the program. Because it’s paid for and gets rid of waste and inefficiency in our health care system this will be the largest deficit reduction plan in over a decade. In fact, we just learned from the Congressional Budget Office that this bill will reduce our deficit by $132 billion over the first decade of the program, and more than one trillion dollars in the decade after that.
Finally, this reform will make coverage affordable for over 30 million Americans who don’t have it -- over 30 million Americans.
As I said before, these are not small changes. These are big changes. They’re fundamental reforms. They will save money. They will save lives. And I look forward to working with the Senate and the House to finish the work that remains so that we can make this reform a reality for the American people…