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Billion Dollars Savings by New Medicare Proposal

Billion Dollars Savings by New Medicare Proposal

Estimations suggest that the new legislation on Medicare supported by US President Barack Obama may aid in making huge savings. The President carried on his operations in support of the health care renovation of the nation. On July 25, 2005 he publicly addressed in the local radio and online medium about the influence of the insurance expenditure on the small business owners.

Obama remarked that a majority of small business owners are compelled to provide fewer health plans to their employees, or turn down and suspend their insurance coverage. This is because they are unable to bear the growing costs of health care. The President believes that such an intolerable circumstance will change only if this new proposal regarding Medicare is passed as a law.

Simultaneously, the Congressional Budget Office commonly termed as the CBO, the nonpartisan association responsible in analyzing the cost of bill, delivered the special reports (regarding the savings) to the administration.

The CBO inferred that the proposal supported by the administration to offer new commission authority, in order to cut down the payments provided by Medicare to the hospitals and doctors, will help in making a savings of 2 billion dollars for the following 10 years. The Democratic leaders are of the opinion that with these possible savings, the government will be able to expand health care coverage to around forty-seven million residents of the country who are uninsured.

Peter Orszag, the budget administrator of the White House, remarked that the primary reason behind the implementation of the proposal is not to make savings for a particular time period, but to change the entire procedure in which medication is offered and payment made for it.

Despite of many arguments and oppositions the President is now proceeding forward to implement the proposal into a law.

The President himself is aware of the fact that many people are against his reform measures and these people think that health care renovation through advantageous for the American population, will however cripple the administration politically. But the President has vowed to change the nation's poor health care condition into a strong one, and believes that the passing of this new Medicare proposal as a law would serve as the stepping stone for this campaign.

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