Washington- H.R. 3962, Speaker Pelosi’s healthcare reform bill, slashes funding for Medicare Advantage plans by more than $150 billion. According to the Congressional Budget Office, these cuts “could lead many plans to limit the benefits they offer, raise their premiums, or withdraw from the program.” Thousands of seniors in the 16th District of Pennsylvania could possibly lose their coverage.

Rep. Pitts’ statement follows:

“President Obama has said that if you like your plan you should be able to keep it. Unfortunately, Speaker Pelosi’s healthcare bill effectively eliminates the popular Medicare Advantage plans that millions of seniors rely on for medical, vision and dental coverage.

“In the 16th District of Pennsylvania almost 30,000 seniors are enrolled in Medicare Advantage plans. Seniors in these plans save money, have lower hospitalization rates and report greater satisfaction with their healthcare. Yet Speaker Pelosi is prepared to gut this program in order to pay for a government takeover of healthcare.”

CBO analyzed a nearly identical proposal to what is contained in H.R. 3962 in a December 2008 report: http://www.cbo.gov/ftpdocs/99xx/doc9925/12-18-HealthOptions.pdf.

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