Washington, D.C.–(ENEWSPF)–October 23, 2013. Intense price competition among health plans in the Affordable Care Act marketplaces for individuals has lowered premiums below projected levels. As a result of these lower premiums, the federal government will save about $190 billion over the next 10 years, according to a new report released today. The report, authored by Massachusetts Institute of Technology economist Jonathan Gruber and CAP health policy expert Topher Spiro, estimates that these savings will boost the health law’s amount of deficit reduction by 174 percent and represent about 40 percent of the health care savings proposed by the National Commission on Fiscal Responsibility and Reform—commonly known as the Simpson-Bowles commission—in 2010.
