The Congressional Budget Office has released some preliminary findings on the health care overhaul by the Obama Administration, sponsored in the Senate by Ted Kennedy:

Two key proposals to improve access to health insurance could reduce the ranks of the uninsured but cost $1 trillion over 10 years, according to preliminary estimates released Monday by the Congressional Budget Office.
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The report by CBO, an independent agency that scores legislative proposals for lawmakers, focuses on proposals to create health insurance exchanges and subsidize the cost of insurance for some households.

The agency estimated that the exchange and subsidies could reduce the number of uninsured people by roughly 16 million by 2015. It is estimated there would otherwise be 51 million uninsured that year.

According to our preliminary assessment, enacting the proposal would result in a net increase in federal budget deficits of about $1.0 trillion over the 2010-2019 period. When fully implemented, about 39 million individuals would obtain coverage through the new insurance exchanges. At the same time, the number of people who had coverage through an employer would decline by about 15 million (or roughly 10 percent), and coverage from other sources would fall by about 8 million, so the net decrease in the number of people uninsured would be about 16 million or 17 million.

We should definitely look for ways to make insurance coverage more affordable and there are ways that it can be done by loosing some restrictions on commerce for the industry. However, saying there is a crisis of uninsured is overblown.