ObamaCare doubles high-risk medical costs (Another "unexpected" higher cost)

human events ^ | 2/26/2012 | John Hayward

[tobyhill]

As promised by then-Speaker Nancy Pelosi, we’re still finding out what was in ObamaCare, years after the Democrats passed it. The latest happy news, courtesy of the Washington Post, is that costs for enrollees in the high-risk insurance pools are literally double what the ObamaCare con artists predicted they would be:

The health-care law set aside $5 billion for a Pre-Existing Condition Insurance Plan, meant to provide health insurance to those who had been declined coverage by private carriers. Since its launch last summer, nearly 50,000 Americans have enrolled in the program.

The PCIP program will phase out in 2014, when insurers will be required to accept all applicants regardless of their health-care status.

Those who have enrolled in the program are projected to have significantly higher medical costs than the government initially expected. Each participant is expected to average $28,994 in medical costs in 2012, according to the report, more than double what government-contracted actuaries predicted in November 2010. Then, the analysts expected that the program would cost $13,026 per enrollee.

[Qwackertoo]

Surprise. Not.

Wish the Supreme Court would hurry up and get this thing overturned.

I hope & pray.

[EGPWS]

Imagine that!

Usually government has underruns and has to give money back to tax payers when implementing political debacles such as government health care.

What a strange turn of events...

[trebb]

Those who have enrolled in the program are projected to have significantly higher medical costs than the government initially expected. Each participant is expected to average $28,994 in medical costs in 2012, according to the report, more than double what government-contracted actuaries predicted in November 2010. Then, the analysts expected that the program would cost $13,026 per enrollee.

And yet the Leftists I know still consider it to be "free"...

[PowderMonkey]

"Wish the Supreme Court would hurry up and get this thing overturned."

So do I, but I also seriously doubt anybody is going to touch it. It's a cash cow for a hungry beast called the U.S. Govt. The amount of money and political power that will be shoveled into its greedy maw is unprecedented. It sustains the beast, and encourages it to grow ever larger. That kind of power will never be voluntarily surrendered. What remains is nothing but street theater for the masses. Time for another round of golf?

[chris_bdba]

Yep if you couldn’t afford insurance before because you had health issues now you are required by law to buy it twice as expensive. Those who bee live this is a good thing are going to be hugely disappointed.