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CBO's Analysis of the Health Insurance Initiatives in the Mid-Session Review 1 (July 2000)

handle is hein.congrec/cbo0668 and id is 1 raw text is: Page 1 of 12 CBO's Analysis of the Health Insurance Initiatives in the Mid-Session Review July 18, 2000 The President's Mid-Session Review of the budget incorporates modifications to the health insurance initiatives that were included in the budget submitted in February.(1) The Congressional Budget Office (CBO) estimates that those initiatives, as modified, would increase direct spending by $4.7 billion in 2001, $129 billion over the 2001-2005 period, and $429 billion over the 2001-2010 period (see Table 1).(2) The modified proposals would also reduce revenues by $9 billion through 2010. Because the proposals would affect direct spending and revenues, pay-as-you-go procedures would apply to them. T-LE97. TEN-YEAR ESTIMATES OF CHANGES IN SPENDING AND REVENUES IN THE PRESIDENT'S HEALTH INSURANCE PROPOSALS (In billions of dollars) Administration's CBO's Estimate Estimate Direct Spending Medicaid and SCHIP (Federal payments) FamilyCare 76.0 56.2 Other Medicaid/SCHIP proposals 14.4 18.1 Effect of Medicare prescription drug benefit 20,3 40.7 Effect of'higher drug prices on Medicaid 0 1.4 Subtotal 110.7 116.4 Medicare Prescription drug benefit 232.4 297.0 Changes to traditional Medicare 17.9 26.8 Expanded eligibility for Medicare 2.9 0.2 Medicare competitive defined benefit -11.9 -13.7 Subtotal 241.4 310.4 Other Federal Programs Diabetes research 0.3 0.3 Ricky Ray Hemophilia Relief Trust Fund 0.5 0.5 Effect of higher drug prices on FEHB program (For annuitants) 0 0.1 Subtotal 0.8 0.9 Social Security outlays for expanded eligibility for Medicare (Off-budget) 1.1 1.4 Total (Including off-budget) 354.0 429.1 Revenues Tax Credits for Expanded Eligibility for Medicare -1.6 -8.4 Income Taxes and Medicare Payroll Taxes (On-budget) 0 -0.6 Social Security Payroll Taxes (Off-budget) 0 -0.3 Total (Including off-budget) -1.6 -9.2 Spending Subject to Appropriations Medicare Administrative Costs for Prescription Drug Benefit 0 5.6 Total Budgetary Effect Decrease in the Total Budget Surplus Over 10 Years 355.6 443.9

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