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Obama Health Plan To Cost $75 Billion

President-elect Barack Obama's plans to overhaul the U.S. healthcare system would cost the federal government $75 billion the first year but would provide health insurance for 95 percent of Americans, consulting firm PriceWaterhouseCoopers said on Wednesday.

This works out to about $2,500 per newly insured person, the firm said in a report.

"The plan would increase to $1 trillion cumulatively by 2018 or approximately $130 billion per year," the report said...

Obama has proposed a national insurance "exchange" with what his website describes as a "range of private insurance options." "This national health insurance exchange could offer a new and different way to compete in the marketplace," Thompson said...

Senate Finance Committee Chairman Max Baucus, a Montana Democrat, unveiled his own healthcare reform plan on Wednesday that resembles Obama's but would require all Americans to have health insurance. Unions and consumers groups quickly praised the proposals.

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