“And it [the health reform plan] will slow the growth of health care costs for our families, our businesses, and our government.” -- President Obama, September 10, 2009
The Centers for Medicare and Medicaid Services (CMS) released a new analysis of ObamaCare, confirming that our nation’s health care costs will increase rather than decrease under ObamaCare and violating a pledge President Obama made to the nation on September 10, 2009. CMS concluded:
-- National health care expenditures will increase by $311 billion.
-- Health care increases to 21% of GDP by 2019.
-- ObamaCare spends more than $828 billion for health care coverage. (CMS didn’t analyze all the tax increases, such as HSAs, FSAs, increasing the AGI threshold, etc.)
-- The government will spend $410 billion to expand Medicaid.
-- Medicaid enrollment increases by 20 million new beneficiaries.
-- 18 million people will be uninsured (excluding 5 million illegal immigrants).
-- Uninsured and those employers who don’t offer coverage will pay $120 billion in taxes.
-- 50% of seniors will lose their Medicare Advantage plans.
-- Some of the Medicare cost-control mechanisms may not be sustainable.
-- Community Living Assistance Services and Supports (CLASS) will run a deficit in 15 years.
-- The $5 billion for High Risk Pools is not enough.
-- Doctors may drop out of Medicare because of the changes in Medicare reimbursement rates.
-- Medicare “savings” may be difficult to achieve.
For previous ObamaCare Flatlines, go to http://www.gop.gov.