Cliff Stearns: “I would like to share with my colleagues the results of a comprehensive new study conducted by Lewin-VHI, the country's…”

“I would like to share with my colleagues the results of a comprehensive new study conducted by Lewin-VHI, the country's leading health care consulting firm, contrasting Stearns-Nickles H.R. 3698 proposal, the Consumer Choice Health Security Act, with the President's health care reform plan. This study was presented before the Senate Finance Committee on March 15. This independent study shows that our bill would save money and jobs; while the President's plan would cost jobs, and reduce wages. The Clinton employer mandate would result in the elimination of between 155,000 to 349,000 jobs and low-wage retail and service workers would on average experience $243 per year in lost wages. In fact, 88 percent of this employer mandate would be passed on to the consumer in the form of lower wages. By comparison, our bill would not eliminate jobs, would not reduce wages, and would save the average family $643 per year in health care costs. In fact, by 1998--the first year the plan would be fully operational--under the consumer choice plan overall household spending would decrease by $35.5 billion. However, under the Clinton plan household spending on health care would only decrease by $7.7 billion. The 'Consumer Choice' plan offers universal coverage through a refundable tax credit while reducing health care costs for all income groups.”