Congressional Record
104th Congress (1995-1996)

THIS SEARCH     THIS DOCUMENT     THIS CR ISSUE     GO TO
Next Hit        Forward           Next Document     New CR Search
Prev Hit        Back              Prev Document     HomePage
Hit List        Best Sections     Daily Digest      Help
                Contents Display

INTRODUCTION OF THE CHRISTOPHER REEVE HEALTH INSURANCE REFORM ACT (House of Representatives - March 07, 1996)

[Page: H1972]  GPO's PDF

The SPEAKER pro tempore. Under a previous order of the House, the gentlewoman from California [Ms. Eshoo] is recognized for 5 minutes.

Ms. ESHOO. Madam Speaker, today I introduced a bill in the House of Representatives, H.R. 3030, and it is entitled the Christopher Reeve Health Insurance Reform Act. I think that that name, rather than the number 3030, is a name that Americans know and respect. Christopher Reeve is an accomplished actor, someone that has appeared both on stage and screen in our Nation and, I believe, now is playing one of the great roles of his life as he advocates for the reforms that are necessary to our health system. And so I am very pleased that he would lend his name to this piece of legislation that seeks to reform a very, very important part of our health insurance system in our country.

[TIME: 1930]

What this bill would do would be to lift the lifetime cap limit that exists in health insurance policies today. People that own life insurance policies may not be, and most are not, aware of the fine print that exists within that policy.

Back in the 1970's, a $1 million cap was placed on the usage or the ceiling for health insurance policies. One million dollars in 1970 was a lot of money. Today $1 million, when a catastrophic incident happens in an individual's life, as it did and came into Christopher Reeves' life, $1 million will be used up very, very quickly. So I think it is important that that standard lifetime cap on individual health insurance policies be raised. That is what this bill accomplishes.

Specifically, the legislation would prohibit insurers from placing limits on health insurance policies of less than $10 million, so those that insure themselves, their policy would have a ceiling of not $1 million, but $10 million. I think this is an important and necessary reform measure that needs to be accomplished.

Last year, Madam Speaker, in our great Nation,

1,500 individuals exhausted their lifetime caps under their health insurance plans. Price Waterhouse estimates that between 1995 and the year 2000, an additional 10,000 Americans will reach their lifetime caps because they require continual medical care. This legislation will protect frequent users of health insurance from being stranded, because a $10 million limit better reflects today's medical inflation.

The $1 million cap, as I said, was adopted in the early 1970's. That reflected very much the times. But that has never been adjusted with inflationary figures, and we know if there is anything that has inflated, that is the cost of health care. Lifting the lifetime caps. Madam Speaker, would also save the Federal Government money.

Price Waterhouse estimates that removing lifetime caps would save the Medicaid Program $7 billion over 5 years. The American Academy of Actuaries estimates that lifting the lifetime caps will cause only a slight increase in premiums, about 1 percent to 2 percent, for employers. I think we can all agree that the $1 million lifetime cap is something that has outlived itself. That is to say that it does not fit with the times. This bill, H.R. 3030, will accomplish that.

Let me close, Madam Speaker, by paying tribute to Christopher Reeves. As I said earlier, he is a recognized name by Americans because of how he distinguished himself on stage and screen. He has been a great advocate for the arts and the humanities, and now, today, he is moving into a new role, and that is being an advocate for the necessary, important reforms that we can bring to the health care system. His eloquent voice, I hope, will be matched by the eloquent act of this Congress.

That is what I urge my colleagues to support and to cosponsor, so we can correct this in the law, and recognize that Americans will be helped, and that with that, we help move America forward. I salute Christopher Reeves for his courage, and I hope Members of Congress will try to match what he has exhibited by supporting this legislation, and indeed, making it the law.

THIS SEARCH     THIS DOCUMENT     THIS CR ISSUE     GO TO
Next Hit        Forward           Next Document     New CR Search
Prev Hit        Back              Prev Document     HomePage
Hit List        Best Sections     Daily Digest      Help
                Contents Display