Obama offers new health plan

WASHINGTON – THE White House unveiled President Barack Obama’s plan to overhaul the US health insurance system on Monday that it said would provide coverage for 31 million uninsured Americans and set up federal monitoring of private insurers’ rate increases.

The plan would cost US$950 billion (S$1.34 trillion), but would also cut costs enough that it would not only be paid for, but would reduce the US budget deficit by US$100 billion over the next 10 years and US$1 trillion over the second decade, White House officials told reporters in a conference call.

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