Washington (CNN) -- Senate Majority Leader Harry Reid unveiled a sweeping health care bill Wednesday that would expand health insurance coverage to 30 million more Americans at an estimated cost of $849 billion over 10 years.
Reid and other Senate Democrats cited an analysis by the nonpartisan Congressional Budget Office for the coverage and cost figures.
In addition, they said at a news conference, the budget office estimated that the proposal would reduce the federal deficit by $127 billion over the next 10 years and by more than $600 billion in the following decade.
The proposal drafted from two separate bills approved by Senate committees now goes to the full Senate, where Republicans have vowed to try to block it.
Reid, D-Nevada, met behind closed doors with Senate Democrats to brief them on details of the bill before the news conference.
Now Reid needs to round up 60 votes in the 100-member Senate to overcome a certain GOP filibuster attempt and open the chamber's debate on the bill.
Democratic leadership sources have said a Saturday vote to start debate is likely. It remains unclear, however, whether Democrats will have enough votes to fend off a filibuster.
Earlier Wednesday, Reid met with Sens. Mary Landrieu of Louisiana, Blanche Lincoln of Arkansas and Ben Nelson of Nebraska, moderate Democrats who have expressed concerns about the cost and scope of health care reform proposals.
The trio will play a pivotal role in the success or failure of health care reform in the Senate. If Republicans stay unified in opposition to the health care bill, Reid would need the support of all 58 Senate Democrats as well as independent Sens. Bernie Sanders of Vermont and Joe Lieberman of Connecticut to overcome a filibuster.
Landrieu said she has concerns relating to the bill's costs to small businesses and individuals. She also expressed opposition to a public health insurance option "that will undermine the private insurance market." If that's included in the measure, she said, "it needs to come out at some point."
She stated, however, that Reid gave her multiple "assurances ... that he's working hard toward those goals."
Nelson released a statement Wednesday noting that the likely weekend vote represents an opportunity "to commence debate and an opportunity to make changes" to improve the bill.
A source close to Nelson indicated that the Nebraska senator may be willing to vote to start debate even if he doesn't support everything that's in the bill.
Landrieu, Lincoln and Nelson have all indicated that they want a chance to read the budget office-scored bill before deciding whether to back a vote starting debate.
Reid has spent the past several weeks melding bills passed by two Senate committees. A version passed by the House -- by a 220-215 vote -- was crafted by Democratic leaders who merged legislation from three House committees.
The House measure is projected to cost more than $1 trillion over the next 10 years.
If the Senate manages to pass a bill, a congressional conference committee would need to merge the House and Senate proposals into a consensus version requiring final approval from each chamber before moving to President Obama's desk to be signed into law.
Democratic leaders in both chambers have been wrestling with a series of controversial issues tied to health care reform, including abortion and immigration. They're also at odds over how to pay for reform.
They have, however, reached agreement on a broad range of changes that could impact every American's coverage.
Among other things, they've agreed to subsidize insurance for a family of four making up to roughly $88,000 annually, or 400 percent of the federal poverty level.
They've also agreed to expand Medicaid and create health insurance exchanges to make it easier for small businesses, the self-employed and the unemployed to pool resources and purchase less expensive coverage.
They also would limit total out-of-pocket expenses and prevent insurance companies from denying coverage for pre-existing conditions.
Insurers under the Democratic plans would be barred from charging higher premiums based on a person's gender or medical history.
CNN's Ted Barrett, Deirdre Walsh and Dana Bash contributed to this report.
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