Health care overhaul: $634 billion

Proposed budget includes 'reserve fund' rather than a detailed plan, Obama official says.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

WASHINGTON (CNN) -- Two White House officials told CNN Wednesday that the proposed budget to be released Thursday will include a $634 billion health care "reserve fund," which is intended to help pay to overhaul the nation's health care system.

One of the officials said the administration sees health care as key to the nation's fiscal health and called the fund a down payment on President Barack Obama's effort to reform health care.

Money for the reserve fund is expected to come from limiting tax breaks for the wealthy and tightening payments to insurers, hospitals and physicians.

OMB Director Peter Orszag told CNN on Tuesday that a massive overhaul of the health care system can be achieved this year and that it should provide "universal coverage."

"We're going to try to avoid the mistakes of the past and not lay down a fully detailed plan, rather work constructively with Congress," he added. To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
Tech's highest paid women Silicon Valley isn't known for its diversity, but it is home to a handful of highly paid female executives. More
9 reasons to be hopeful about women in tech These startups are working to leverage technology to level the playing field for minorities and women in tech. More
10 best states to retire in Forget Florida. Residents of these states are happy, safe, and have good health care -- all for the right price. More
Sponsors