Max Baucus: “The Congressional Budget Office says that the health care reform bill will lower premiums for…”

“The Congressional Budget Office says that the health care reform bill will lower premiums for all--millions--Americans--all. The Congressional Budget Office said health insurance premiums would fall by 14 to 20 percent for the same plan in the individual market and the small group market, up to 2 percent lower. Let me repeat that. The individual market for the same plan, the Congressional Budget Office says premiums will fall under this legislation. They will be lower, they will be less by 14 to 20 percent than the same plan in the individual market, as people buy insurance individually, and premiums for the small group market--that is roughly small business--would be up to 2 percent lower than currently. Why is all that? It is basically because there are savings. The savings come from lower administrative costs, increased competition, and from better pooling of risk.”