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How Would the Rivlin-Domenici Plan Reduce Federal Health Care Spending?
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The Rivlin-Domenici Plan reduces federal spending on health care primarily through capping premium support payments per Medicare beneficiary to one percentage point faster than the growth of the economy. This is lower than the current projected growth rate for Medicare spending, which is closer to 2 percentage points above Gross Domestic Product (GDP). This difference — almost one percentage point — saves the government billions of dollars over time. As a result, under the Rivlin-Domenici Plan, projected government health care spending would be around 6 percent of the GDP in 2020, 8 percent of the GDP in 2030, and 10 percent of the GDP in 2050. For comparison, U.S. spending on total health care was around 5.5 percent of the GDP in 2010 and is projected to increase to 7 percent of the GDP in 2020, between 9-11 percent of the GDP in 2030 and 12-14 percent of the GDP in 2050.


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READ MORE ABOUT THIS TOPIC: Congressional Budget Office (CBO), 2010, “The Long-Term Budget Outlook,” p. 33.; The Debt Reduction Task Force, November 2010, “Restoring America’s Future,” p. 46.; CBO, 2010, “The Long-Term Budget Outlook,” pp. 41.
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