WASHINGTON (November 1, 2009)--The Congressional Budget Office estimates that only 2 percent of Americans younger than age of 65 would sign up for insurance under the much-debated public option.

The insurance industry has argued strenuously for months that offering a government-run alternative would severely undermine private carriers, but the CBO found that the scaled back government plan in the House version of health care legislation couldn't overtake private insurance.

To the contrary, the CBO says it might help the insurers a little.

The budget office estimated that about 6 million people would sign up for the public option in 2019, when the House bill is fully phased in, which represents about 2 percent of a total of 282 million Americans less than 65.

The overwhelming majority of the population would remain in private health insurance plans sponsored by employers.

Others, mainly low-income people, would be covered through an expanded Medicaid program.

The CBO is the nonpartisan economic analyst for Congress.