Senate Healthcare Reform Cost Within Obama's Target

WASHINGTON (Reuters) - A sweeping U.S. Senate healthcare overhaul, to be unveiled later on Wednesday, would cost $849 billion over 10 years and reduce the deficit by $127 billion during the same period, a senior Senate aide said.

The non-partisan Congressional Budget Office said the Senate plan prepared by Democratic leader Harry Reid would extend coverage to 31 million uninsured people, the aide said.

The $849 billion price tag puts the measure well under President Barack Obama's target of $900 billion for his top domestic priority.

The healthcare overhaul has been stalled in the Senate as Reid waited for the CBO estimates and searched for a way to win the 60 votes needed to clear Republican procedural hurdles.

Senate Democrats have scheduled a 5 p.m. EST (2200 GMT) meeting to hear details of the bill and get the CBO cost estimates.

The bill merges two health measures passed earlier this year by Senate committees. In addition to expanding coverage to tens of millions of uninsured Americans, the bill would halt practices like denying coverage to individuals with pre-existing conditions.

The publication of the bill would clear the way for a Senate vote on Friday or Saturday on whether to begin debate -- the first key procedural hurdle for the Senate plan.

If the Senate passes a bill, any differences with the version passed by the House of Representatives would have to be reconciled before the final versions can be voted on again in both houses and, if passed, sent to Obama for his signature.

Reid said he was "cautiously optimistic" he can win the 60 votes needed to begin the debate, but Democrats have no margin for error -- they control exactly 60 seats in the 100-member Senate and Republicans so far are united in opposition.

A handful of centrist Democrats have rebelled at Reid's decision to include a new government-run public insurance program in the bill, but Reid has been working to corral their support at least to start debate.

If the Senate takes up the bill, the debate is expected to begin on November 30, after the U.S. Thanksgiving holiday next week, and last for at least three weeks.