by Greta Kaul
House of Representatives Speaker Nancy Pelosi said Tuesday that the Democrat-drafted health care overhaul would reduce the budget deficit over 10 years and cost less than the target price tag of $900 billion, Reuters said.
Three separate health care reform bills were analyzed for cost-effectiveness by the Congressional Budget Office and are now in the process of being merged, Reuters said. According to Nancy Pelosi, all three cost less than $900 billion.
As of now, a core component of all three bills is the "individual mandate," which requires all Americans to have health insurance, according to CBS News. Many Republicans are opposed to the individual mandate, CBS said.
Pelosi said that the final bill would include a government-run insurance option, Reuters said.
The challenge for Democrats, according to CBS, will be to facilitate the expansion of health care insurance without going over $900 billion, however, Pelosi said that Democrats would not bring forward a bill that didn't meet President Obama's target cost.