Senate Proceeding on Oct 27th, 2009 :: 0:08:30 to 0:25:05
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0:08:26 to 0:08:49( Edit History Discussion )

Chuck Grassley: with the time equally divided and controlled between the two leader the republicans controlling the first half and the controlling the second half. mr. grassley: mr. president? the presiding officer: the senator iowa. mr. grassley: thank you, mr. presiden with health care reform -- those words -- everybody would expect costs togs down, premiums to

0:08:30 to 0:25:05( Edit History Discussion )
Speech By: Chuck Grassley

0:08:50 to 0:09:13( Edit History Discussion )

Chuck Grassley: level off, and more people being served. this seems like the proposals that are before t going to increase taxes medicare, increase health insurance premiums, and i think anybody hearing that would say,

0:09:14 to 0:09:35( Edit History Discussion )

Chuck Grassley: that's not health care reform. or at least the health care snected congress to pass. so, we're here in the congress soon about to consider a single bill that will psonal lei effect the lives of every american. not often do we pass a bill that

0:09:36 to 0:09:58( Edit History Discussion )

Chuck Grassley: affects the lives of every single american and not often do we pass a bill that restructures 17% of the u.s. economy, never before. as one "washington times" editorial am going to quote, and it is here for the audience to read -- "the

0:09:59 to 0:10:19( Edit History Discussion )

Chuck Grassley: bigger than great entire economy. imagine five congressional committees trying to redesign the british economy successfully in just a few weeks. no wonder people are getting nervous. people are getting nervous.

0:10:20 to 0:10:40( Edit History Discussion )

Chuck Grassley: 6r as i travel around iowa, i hear a lot of concern about out-of-control government spending. and a massive government takeover of the health care system. people are worried that health care reform will result in lower quality, less access and government bureaucrats

0:10:41 to 0:11:02( Edit History Discussion )

Chuck Grassley: what health insurance you can or could nocan't have. and on top of all that, goal lop released a poll last week saying 49% of the americans believe that their personal costs will get worse. yes, worse. after health care reform is neablghtd.

0:11:03 to 0:11:23( Edit History Discussion )

Chuck Grassley: the poll also reported that -- and i emphasize "only" -- 22% actually think that costs will go down. less than one-quarter of the people polled actually thoht that health reform would accomplish its top priority. king health care more affordable.

0:11:24 to 0:11:46( Edit History Discussion )

Chuck Grassley: i can't speak for my colleagues. i don't know what they're hearing from their constituents. but i know atoured to pay more for -- but i know iowans can't afford to pay fomore for health care. costs are straing family budgets and they're making it

0:11:47 to 0:12:07( Edit History Discussion )

Chuck Grassley: increasingly difficult for employers to offer health insurance. and now the nonpartisan congressional budget joint committee on taxation and even the office of the actuary at the u.s. department of health and human services have told us what the american people already

0:12:08 to 0:12:31( Edit History Discussion )

Chuck Grassley: know: these massive partisan health care reform bills are going to make the problem worse. let me emphasize for the american people thatight be listening that the congressional budget office, the joint committee on taxation, and the office 6 actuary at the department of h.h.s., these

0:12:32 to 0:12:52( Edit History Discussion )

Chuck Grassley: people are professional, not political, they don't change from time to time when the makeup of congress changes. they are there over a long period of time studying things in an intellectually honest way to tell it like it is. and twhras they are a saying. that these massive partisan

0:12:53 to 0:13:15( Edit History Discussion )

Chuck Grassley: health care reform bills are going to make the problem worse. so i would like to go to some analysis that we've already received from these nonpartisan, intellectually honest organizations. touring a september 22 letter from c.b.o. to chairman baucus about

0:13:16 to 0:13:36( Edit History Discussion )

Chuck Grassley: bill, c.b.o. wrote, and i quote, "premiums in the new insurance exchanges would tend to be higher than the average premiums in the current-law individual market." so, according thes many of the people struggling to aford their premiums today will

0:13:37 to 0:13:59( Edit History Discussion )

Chuck Grassley: actually end up seeing that's premiums go up. if this bill is enacted. the congressional budget office also commented on how the tax increases would also raise premiums. during the finance committee markup, senator cornyn asked this question.

0:14:00 to 0:14:20( Edit History Discussion )

Chuck Grassley: "would the new fees on health insurers be passed down to health care consumers? ""end of question. dr. elmendorf, director of c.b. egon, re quote -- "our judgment is the new fees would raise insurance premiums." end of quote. and the joint committee on

0:14:21 to 0:14:43( Edit History Discussion )

Chuck Grassley: taxation confirmed that they came to the same conclusion during the markup. mr. bart hold, theirector there, is that that fee will be reflected in higher premium costs." end of quote.

0:14:44 to 0:15:06( Edit History Discussion )

Chuck Grassley: let's not forget that these new insurance fees begin next year in the year 2010, three years before any of the reforms in the bill take fefnlgt irrefutable that premiums will go up american starting next year as a result of the bill that

0:15:07 to 0:15:27( Edit History Discussion )

Chuck Grassley: of the senate finance committee. the office of the actuary with the department of health and human services -- now, this is another nonpartisan group -- highly rarted set of ex -- regarded set of experts -- have also looked at some of the democratic health reform proposals.

0:15:28 to 0:15:48( Edit History Discussion )

Chuck Grassley: in a memo released october 21, the department of health and human services office of actuary provided an analysis of house bill h.r. in the memo, the health and human services chief actuary writes that the bill does

0:15:49 to 0:16:10( Edit History Discussion )

Chuck Grassley: the growth curve, meaning the inflationary increase in health care costs, and of course a priority for congress and the white house was to bend that curve. but unfortunately, the chief actuary says that the democratic leadership and the white house have failed to tell the american

0:16:11 to 0:16:32( Edit History Discussion )

Chuck Grassley: public that it bends the curve in the wrong direction. not downward, but according to the h.h.s. memo, health care spending actually increase if the house bill became law. so, the actuary writes it this

0:16:33 to 0:16:53( Edit History Discussion )

Chuck Grassley: way: quote -- "in the aggregate, we estimate that for calendar years 2010-2019, national health expenditures would increase by $750 billion, or 2.1% over the updated baseline protection." that's the end of quote.

0:16:54 to 0:17:16( Edit History Discussion )

Chuck Grassley: and pwhaoeul some of the supporters of these partisan bills may not want to tell their constituents, we all know that as national spending on health care increases, american families will bear a burden through increased health insurance premium

0:17:17 to 0:17:38( Edit History Discussion )

Chuck Grassley: so let me be very as a result of the pending health care proposals, most americans will pay higher premiums now, some of my cleagues will try to refute this claim by mentioning the taxpayer-funded subsidies, including in these health care bills. it's interesting that they don't

0:17:39 to 0:18:00( Edit History Discussion )

Chuck Grassley: even try to deny in the process of talking about taxpayer-funded subsidies, that premiums will still go up. they don't deny that. they just say that the government, or let's say the taxpayers, are going to pick up the tab. it is true the proposals that we have seen so far include about

0:18:01 to 0:18:22( Edit History Discussion )

Chuck Grassley: $500 billionn cuts to medicare and massive tax increases to pay for this new entitlement program. once again some of fail to tphaepbgs most americans -- most americans -- fail to mention that most americans -- most americans -- won't qualify for these subsidies.

0:18:23 to 0:18:43( Edit History Discussion )

Chuck Grassley: about 160 million americans get their health care through their employer. but if you are one of those people who get their health care through an employer, you don't qualify for any subsidy until you spend 10% of your income on health care premiums. now, the other side plans to throw as much of your -- the presiding officer: the

0:18:44 to 0:19:05( Edit History Discussion )

Chuck Grassley: senator has used ten mr. grassley: i would ask for an additional seven the presiding officer: witho objection, so ordered mr. grassley: now the other side plans to throw as much of your hard-earned dollars to make premiums appear affordabl but even with their $1 trillion in spending, the congressional

0:19:06 to 0:19:27( Edit History Discussion )

Chuck Grassley: budget office has confirmed that in 2019, only about 7% of those insured will be getting government subsidies fplt only 7%. so even though there will be a huge new taxpayer-funded subsidy program to help pay for these premium increases, most people won't actually qualify for any

0:19:28 to 0:19:48( Edit History Discussion )

Chuck Grassley: of that help. they'll just be stuck wit the higher taxes -- yes, higher taxes; less choices -- yes, less choices -- and, yes, higher health insurance premiums. some people may wonder what parts of the bill are driving up these costs. we've already identified the new insurance fee. one analyst for the federal

0:19:49 to 0:20:10( Edit History Discussion )

Chuck Grassley: policy group concluded that the insurance fee alone could raise premiums $500 per year per family. then there are the new benefit requirements. underhe proposal we have seen so far, the federal government is now defing what kind of insurance you can buy anywhere in the united states.

0:20:11 to 0:20:32( Edit History Discussion )

Chuck Grassley: this means illegal for insurers to sell or for you to buy many of the policies that people are currently enrolled in. by law, it will be illegal to buy policies that do not meet an actuarial value of 65% and cover a long list of mandated benefits. the consulting firm oliver wyman

0:20:33 to 0:20:54( Edit History Discussion )

Chuck Grassley: has said that since this new federal minimum standard is higher than many of the policies sold today, new enrollees will have to pay about 10% more to meet the new standard. and this is finance committee bill. that's 10% increase in premiums would be much higher under any

0:20:55 to 0:21:17( Edit History Discussion )

Chuck Grassley: of senate "help" committee proposal. now, once again the other side of the aisle will point to a grandfathering policy that is meant to, as the president said, let you keep what you have. but they failed to mention that this grandfathering policy doesn't count if you ever plan

0:21:18 to 0:21:39( Edit History Discussion )

Chuck Grassley: to move or, two, your insurer stops offering coverage. or, three, youant to change your policy to add vision or dental coverage. if you meet any one of those criterias, the promise that you will be able to keep what you have doesn't apply to that individual. another factor that will drive premiums up is the new aging --

0:21:40 to 0:22:00( Edit History Discussion )

Chuck Grassley: age rating rules. these rules set limits on the amounts premiums can vary between younger and older enrollees. some of the proposals that are being considered would tighten this variation so much that it will drive up premiums by almost 70% for younger, healthier enrollees.

0:22:01 to 0:22:22( Edit History Discussion )

Chuck Grassley: so all of those who, so-called young invincibles that we need to get into the health insurance pool, all of the recent college graduates are going to be hit harder by the increase in premiums because of proposed market reforms. taking all

0:22:23 to 0:22:43( Edit History Discussion )

Chuck Grassley: account, oliver wyman actuaries also concluded that individuals would pay as much as 73% more as a result of the policies in the finance committee bill. and small businesses could face about a 20% increase which will lead to about 2.5 million less people getting coverage through their small business. we can certainly debate all these numbers.

0:22:44 to 0:23:05( Edit History Discussion )

Chuck Grassley: some may question whether rates will increase by that much, and i'm sure some will question the sources of these studies. although i should note that we didn't just take these estimates at face value. in fact, ever sin six meetings, we've had some of

0:23:06 to 0:23:26( Edit History Discussion )

Chuck Grassley: the best independent actuaries and insurance analysts analyzing the data. but even people who want to debate the sources do not deny the fact that health insurance premiums will go up as a result of the bills that we're considering. the game.

0:23:27 to 0:23:47( Edit History Discussion )

Chuck Grassley: i'm actually beginning to wonder if the reason no one is denying it is because this is intentional. if these bills drive up premiums in the private market, it's going to make it a lot easier to push for a insurance program or a new

0:23:48 to 0:24:08( Edit History Discussion )

Chuck Grassley: entitlement program. a "washington post" story over the weekend reinforces this concern. quote -- "senator reid's original inclination was to leave the public option out of the final bill, but his liberal colleagues began urging him two weeks ago to reconsider. after the insurance industry

0:24:09 to 0:24:30( Edit History Discussion )

Chuck Grassley: forecast that premiums would rise sharply under the finance committee bill." end of the post let's hope democratic leadership and the house aren't willing to push a bill that forces 200 million people to pay premiums unless they enroll in a new

0:24:31 to 0:24:51( Edit History Discussion )

Chuck Grassley: government entitlement insurance program, but that is certainly what it sounds like. whatever the motive may be, the facts are undeniable. health insurance premiums will increase for every individual and small business as early as next year as a result of the pending health bills. it will hit young, healthy people the hardest.

0:24:52 to 0:25:05( Edit History Discussion )

Chuck Grassley: it will cause small businesses to stop offering health insurance premiums. we've heard it from joint tax. we've heard it from c.b.o. we've heard of actuary within the u.s. department of health and human services.