Okay, we knew this^[1] was going to happen, but more importantly, Maj. Leader Reid has the votes he needs to pass a bill that:

• would expand coverage to over 30M Americans
• allow private firms to offer insurance packages across state jurisdictions (no public option)
• ban the practice of refusing coverage of children with pre-existing conditions^[2]
• give patients the right to an appeal if Insurance denied a claim^[3]

Bottom line, financing would come from Medicare cuts and decreasing future spending — reducing budget deficits by almost $150B by the end of the next decade; and taxes would  be raised in the private healthcare sector on the most expensive policies.

UPDATE: The CBO has just weighed in on the cost of the Senate proposed bill.

1. Senator Ben Nelson will announce Saturday morning that he would support the Senate reform bill, clearing the way for final passage. [↩]
2. A complete ban on the practice would take effect in 2014. [↩]
3. Insurance companies would be required to spend at least 80 cents of every dollary they collect in premiums on delivering care to their customers. [↩]

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