Patient Protection and Affordable Care Act

The U.S. Senate has released the Patient Protection and Affordable Care Act. I am reading the bill now. President Barack Obama issued a statement on the bill.

Today we passed another critical milestone in the health reform effort with the release of the Patient Protection and Affordable Care Act. I was particularly pleased to see that the Congressional Budget Office has estimated that the bill will reduce the deficit by $127 billion over the next ten years and as much as $650 billion in the decade following, saving hundreds of billions while extending coverage to 31 million more Americans.

From day one, our goal has been to enact legislation that offers stability and security to those who have insurance and affordable coverage to those who don't, and that lowers costs for families, businesses and governments across the country. Majority Leader Reid, Chairmen Baucus and Dodd, and countless Senators have worked tirelessly to craft legislation that meets those principles.

Just yesterday, a bipartisan group of more than 20 leading health economists released a letter urging passage of meaningful reform and praising four key provisions that are in the Senate legislation: a fee on insurance companies offering high-premium plans, the establishment of an independent Medicare commission, reforms to the health care delivery system, and overall deficit neutrality. The economists said that these provisions 'will reduce long-term deficits, improve the quality of care, and put the nation on a firm fiscal footing.' Those are precisely the goals we should be seeking to attain.

The challenges facing our health care system aren't new - but if we fail to act they'll surely get even worse, meaning higher premiums, skyrocketing costs, and deeper instability for those with coverage. Today, thanks to the Senate's hard work, we're closer than ever to enacting solutions to these problems. I look forward to working with the Senate and House to get a finished bill to my desk as soon as possible.

Update: the bill's lanuage clearly states no federal funds maybe used for abortions.

ABORTIONS FOR WHICH PUBLIC FUNDING IS PROHIBITED. The services described in this clause are abortions for which the expenditure of Federal funds appropriated for the Department of Health and Human Services is not permitted, based on the law as in effect as of the date that is 6 months before the beginning of the plan year involved.

Sec. Kathleen Sebelius will have the power to determine what over funding relating to abortion. That dtermination will be made by the CBO and Government Accountability Office. The bill states insurers are not required to carry coverage for abortions. The bill is following the law of the hidious Hyde amentment.

NO PREEMPTION OF STATE LAWS REGARDING ABORTION.— Nothing in this Act shall be construed to preempt or otherwise have any effect on state laws regarding the prohibition of (or requirement of) coverage, funding, or procedural requirements on abortions, including parental notification or consent for the performance of an abortion on a minor.

Reid wants private insurers to federal funds from private premiums. The short answer is we are requiring health insurers to create different accounts.

The senate bill will tax costemic surgery. I'm looking forward to Republicans standing up for less taxes on boob jobs.

Update: RH Reality Check finds the bill does not contain language as Draconian as the Stupak-Pitts amendment.