Posted on 07/24/2012 3:37:05 PM PDT by SeekAndFind
The Congressional Budget Office released their post-Supreme Court ruling reassessment of ObamaCare earlier today, and " unexpectedly " the latest numbers are even less attractive than we originally estimated. Who could've seen this coming?
The nonpartisan Congressional Budget Office on Tuesday said President Obama’s healthcare reform reduces the deficit by $109 billion over ten years.
This is a new re-estimate in light of June’s Supreme Court ruling upholding the law and it is a smaller deficit savings than CBO had previously projected.
CBO said the ruling added uncertainty to its estimates but it has put forward a number that comes down in the middle of possible outcomes.
In March 2011, CBO said that ‘Obamacare’ would reduce the deficit by $210 billion over ten years, despite increasing spending by $1.042 trillion over 10 years.
Despite their insistence that ObamaCare is going to help bring down the deficit (I remain wildly and incorrigibly skeptical), this is still just a fancy way of saying that ObamaCare is going to cost more than they originally thought — or, rather, more than they originally and miraculously managed to convince themselves it was going to cost.
I also wonder if there’s any way in heck they could possibly be taking into account all of the neighborhood effects that are going to come about as a result of ObamaCare, since there’s no possible way of knowing what all of those are going to be — and therein lies the trouble with massively intrusive behemoths of legislation that are enough to make the Founders roll over in their graves. The distorted incentives, regulations, many new taxes, and rampant uncertainty coming to fruition under the auspices of the PPACA are already rearing their ugly heads, and they’re not even finished writing all of the rules for the darn thing, let alone the mishaps that will come during actual implementation. Here’s just one fresh example:
About one in 10 employers plan to drop health coverage when key provisions of the new health care law kick in less than two years from now, according to a survey to be released Tuesday by the consulting company Deloitte.
Nine percent of companies said they expect to stop offering coverage to their workers in the next one to three years, the Wall Street Journal reported. Around 81 percent said they would continue providing benefits and 10 percent said they weren’t sure.
The companies, though, said a lot will depend on how future provisions of the law unfold, since most of the key parts are scheduled to take effect in 2014. One in three respondents said they could stop offering coverage if the law requires them to provide more generous benefits than they do now, if a tax on high-cost plans takes effect in 2018 as scheduled or if they decide it would be cheaper for them to pay the penalty for not providing insurance.
Oh joy, oh rapture. What other lovely little gems shall we discover if/when the ObamaCare saga continues to unfold?
Just as O and the dems wanted.
You might have worked all your life to provide for your family but soon you will have to get in line behind the welfare queens and the work-shy to have your heart checked out or your injury attended to. You better pray for good health!
The congressmen who voted this monstrosity on us won't need to worry either. They made themselves exempt from ObamaCare and have their own plan that covers everything 100% (courtesy of the taxpayer) at no out-of-pocket expense for them. Think about that one!
That number is going to be a LOT bigger when it actually hits.
It's a joke; don't bother correcting it.
Most would be better off paying the fine...until the fine gets increased to 10 times what they say it is now.
Of course, again, unions will get waivers.
A story worth telling. My brother works for a technology company that discovered around fifteen years ago....to dump insurance companies. With 800 employees....they basically hired a middle company who found cheaper rates in the local area with HMO’s...and gave all employees cards to just show up and pay around $12 per visit. The bills were then processed and came straight back to the technology company itself...instead of a insurance company.
What they found was that they typically saved around twenty to thirty percent of what a insurance company would charge. With the exception of HR and leadership....no one in the company really understood this effort. They plowed the profits back into the company. They never let any employee get fired because of health of themselves or their families.
So this was reviewed by other companies and found to be an interesting deal. More were attempting the same deal.
Funny thing...the 2700 page Obama health law....forbid a company from doing this. So the CEO stood up and said about twelve months ago that they would absolutely halt their coverage plan. A mass meeting was held where this detailed plan was laid out and it made total sense to run health coverage like this (the company made profit). Now? No coverage as of 2014 when this full act falls into place. Everyone was shocked and some felt betrayed by the Democratic Party.
Yeah, I can see how government types consider that a win/win situation.
I have researched it for my business and I will pay the fine and drop it. Why fight year after year on renewal. 150 employees.
The whole point of this exercise is to gradually sever the link between employment and medical insurance. In that light, the 9% figure cited here is about 91% too low for the liking of this country's leadership.
I don't see that as a bad thing. The real problem is going to be: What comes next?
Employees should be getting their plan choices with the hefty Obamacare increases just in time for the election, if they’re lucky. If they’re not, they will be getting notices that they will no longer have coverage because of Obamacare. Either way, it’s an October surprise that helps Romney.
Perhaps, if single payer is uppermost in their minds. An alternate possibility, which I haven't seen mentioned, is that the low penalty for dropping coverage might be a temporary teaser. Someone's got to pay for O-care--maybe his plan is to make employers pay by dramatically raising the initial penalty for not insuring employees.
. . . and I can only hope that those will be the parent companies and their subsidiaries ABC, NBC, CBS, CNN, MSNBC, CNBC. Then and only then will we hear the cries of the liberal commentators complaining about the loss of their excellent health-care benefits.
It's Time for the 'And So It Begins' drinking game! Every time someone posts the oh-so dire and ominous 'And So It Begins' - we take a drink!!
And So It Begins....
And so it begins
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So it begins...
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And so it begins:
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So it begins,
So it begins.
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and so it begins.....
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and so it begins.
And so it begins
And so it Begins….
A Romney we can respect (So it begins)
And So It Begins (Dollar Warnings)
And So It Begins! (And so it begins)
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(And So It Begins)
And so it begins again.....
School Is Renamed For Obama (And so it begins...)
So it begins.
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And so, it begins.....
And So It Begins...
And so it begins!
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(so it begins...)
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And So It Begins.
And so it begins:
While this list is not complete, it demonstrates the fun you and your family can have at home.
So join in, and drink up!!!
Yeah, and just when you think there are no more shoes left to drop....
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