King Introduces Bipartisan Bill to Track Taxpayer Savings of Preventive Healthcare

February 09, 2023
WASHINGTON, D.C.– U.S. Senator Angus King is introducing bipartisan legislation to better measure the cost savings that come with improved investments in preventive healthcare for Maine people. ThePreventive Health Savings Actwould instruct the Congressional Budget Office (CBO) to fully study the costs and benefits that could be seen with proposed preventive healthcare legislation.CBO analyses are essential benchmarks that members of Congress use to determine the cost of legislation to the American taxpayer. This longer-term view would take into consideration savings that are seen beyond the existing 10-year budget window, to better determine the return on investment of Americans getting ahead of health problems before they get more serious and costly.
“Expanding preventative care is one of the most effective ways to keep Maine people healthy and save money for patients and taxpayers alike, but first we must understand it – and that means measuring it,”said Senator King. “The Preventive Health Savings Act will support more effective investments in health by giving Congress a more complete view of how preventative care legislation can help patients stay healthy and cut costs. This bipartisan bill is a commonsense step to reduce healthcare expenses, save taxpayer dollars, and support Americans’ long-term health.”
Chronic diseases are a leading cause of death and disability in the United States, and treating affected patients accounts for over 90 percent of our nation’s $3.3 trillion annual medical expenditures. Many of these diseases – including heart disease, diabetes, and obesity– are easily detected and largely avoidable through screenings, routine testing, and early interventions.
Under current law, however, the CBO does not take into account the long-term cost-savings associated with preventive health initiatives. ThePreventive Health Savings Actwould direct the CBO to more accurately reflect the cost-savings of preventive health care legislation by allowing Congressional Committees to request additional analyses of the budgetary impact of preventive healthcare legislation. By allowing the CBO to widen its budget window to better capture the costs-savings from preventive care, the legislation encourages a sensible review of health policy in order to promote public health and incentivizes Congress to invest in proven methods of saving lives and money.

Senator King is committed to making healthcare more accessible and affordable for Maine people and all Americans. He recently helped pass theInflation Reduction Actwhich has laid the groundwork for — and in some cases already implemented — long-term changes in federal policy that will keep people healthier and deliver higher quality care at lower cost to patients. He recently wrotean op ed in the Bangor Daily Newsabout his work to expandtelehealth accessandensure rural Maine households have the 21st century connectionsthey need to access online healthcare.