I felt the health care reform news out of Washington last week was decidedly mixed. For those of us who have advocated reform for many, many years, the mere fact that legislation made it past the Senate Finance Committee and one step closer to becoming reality is quite historic. A lot of folks never thought we’d even get this close, so it is indeed something that gives one great pause.

The legislation itself is another matter.

The iteration of the bill that the committee passed needs a lot of work to make it affordable before it goes up for a final vote in Congress. By now, most people are aware of the report AHIP released concluding that the current legislation would raise insurance premiums for a family of four by about $1,500. Although its authors admitted having to make simplifying assumptions that made the analysis less than comprehensive, I found it very troubling that the White House was so quick to dismiss the findings simply as insurance industry propaganda timed to derail last Tuesday’s vote. In fact, the existence of a second report that somehow flew much further under the radar not only corroborates the results of the AHIP study, it almost makes the $1,500 premium increase seem acceptable in comparison.

Oliver Wyman, Inc., the renowned actuarial consulting firm, released a more inclusive study saying that the legislation in its current form could ultimately raise rates upwards of 48 percent for approximately 94 percent of the population. Among other things, the Wyman report called for the bill to include market stabilizers to help offset such drastic cost increases. For example, it said, if the proposal calls for the elimination of pre-existing conditions, it should then also make health insurance mandatory for all. As it stands, the bill calls for the elimination of pre-existing condition rules immediately while taking a few years to implement penalties for not having coverage. And even then, the penalties are minimal. This will enable a large number of young and otherwise healthy people to wait until they’re sick to buy insurance, driving up the cost of premiums for the remaining population. No proponent of the currently proposed legislation has been able to undermine the analysis, so they’ve chosen to simply lump it in with the AHIP report as “lies.”

This is just one challenge with the legislation. There are other instances in which the bill doesn’t properly address affordability and that’s why it needs to be amended significantly before making its way to Congress. It is very important that the folks on Capitol Hill recognize that affordability goes far beyond what people pay for health insurance. It extends into what we as a society can afford to pay and, if the legislation passes as-is, the price may be very steep.