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Analysis and Premiums 1 (September 22, 2009)

handle is hein.congrec/cbo1062 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE Douglas W, Elmendorf, Director U.S. Congress Washington, DC 20515 September 22, 2009 Honorable Max Baucus Chairman Committee on Finance United States Senate Washington, DC 20510 Dear Mr. Chairman, This letter responds to your questions about the subsidies offered through insurance exchanges and enrollees' payments for that coverage under the specifications for the Chairman's mark for proposed health care legislation that were provided by the staff of the Senate Finance Committee on September 15, 2009. It also discusses the factors that affect a comparison of those figures to the amounts that individuals and families would pay, on average, for employment-based coverage or individually purchased policies under current law. The Congressional Budget Office (CBO) has not completed a review of the document entitled Chairman's Mark, America's Healthy Future Act, which I understand has been subsequently modified.' Subsidies and Payments Under the Proposal You asked for additional analysis of the subsidies that enrollees would receive for premiums and cost sharing-and the amounts they would have to pay, on average-if they purchased coverage in the new insurance exchanges that would be established under the Chairman's proposal. Those subsidies and payments would vary depending on an individual's or family's income relative to the federal poverty level (FPL). The enclosed table illustrates average subsidies and payments for single individuals and families of four at different income levels in 2016, based on the estimates that CBO and the staff of the Joint Committee on Taxation (JCT) have developed for that proposal. 1 See Congressional Budget Office, letter to the Honorable Max Baucus providing a preliminary analysis of specifications for the Chairman's mark of the America's Healthy Future Act (September 16, 2009). www.cbo.gov

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