Political Wire: Study Confirms Health Care Bill Will Cut Costs

Update: Matthew Ygelsias has a powerful graph breaking down the findings of the study.

CQ Politics' Political Wire:

A new analysis by MIT economist Jonathan Gruber claims that the Senate health-reform bill will "make health insurance much more affordable for individuals facing purchase in the non-group market."

The report, which is surely good news for Democrats, states that the Senate's version of the bill will significantly curb health care costs for both individuals and families.

Gruber finds "that the single individual would save over $2500 at low incomes (175% of poverty), and would save $200 even at higher incomes (425% of poverty or higher). For families, the savings are much larger, ranging from nearly $7500 for low income families (at 175% of poverty) to $500 for higher incomes (425% of poverty or higher)."

The Washington Post's Ezra Klein also flags the study this morning, and compares its findings to the costs of doing nothing:

One of the costs of not passing health-care reform, it seems, is that policies in the individual market will cost about 23 percent more than they will under reform. A vote against change is, in effect, a vote for that. Mmm ... status quo-alicious!