Skip to comments.Healthcare Cost Estimates Rise Under “Affordable” Care Act
Posted on 11/01/2012 3:12:10 AM PDT by tobyhill
The Patient Protection and Affordable Care Act (ACA), also known as ObamaCare, contains the largest new entitlement since the Great Society in the form of health insurance subsidies. As anyone with even a modicum of historical knowledge would expect, that entitlements cost is already growing much faster than originally projected. In fact, even though the subsidies have not yet gone into effect, they are expected to cost almost 25 percent more than initial estimates from just two years ago. Furthermore, the subsidies price tag is likely to continue to rise as a result of increasing healthcare costs, a sluggish economy, and a reduction in the number of individuals receiving health insurance through their employers.
Those are the conclusions of a new paper from the American Action Forum. The think tanks president, former Congressional Budget Office (CBO) director Douglas Holtz-Eakin, examined the CBOs projections for the subsidy entitlement and found real cause for concern that the program could end up costing vast sums of money at a time when Uncle Sam is already borrowing over $1 trillion a year.
The ACA provides subsidies for people with incomes from 100 percent to 400 percent of the federal poverty level to purchase health insurance on state exchanges if they cannot obtain affordable (as defined by the ACA) employer-sponsored insurance and are ineligible for other federal healthcare programs.
(Excerpt) Read more at thenewamerican.com ...
” found real cause for concern that the program could end up costing vast sums of money at a time when Uncle Sam is already borrowing over $1 trillion a year.”
It would have cost us plenty if we weren’t borrowing 1 trillion a year. Not just money, but in lives too.
Just found out yesterday that my health insurance premiums will increase by 37%...
Buncha liars- all of them.