U.S. Congressman Mike Pence, Chairman of the House Republican Conference, issued the following statement today in response to a new analysis by the Obama Administration of its own recently passed health care law:
This new report from the President’s own Medicare agency confirms what we’ve known all along: The President and Congressional Democrats passed a health care law without any way to pay for it. They promised lower costs, but instead ObamaCare will lead to increased costs, decreased quality of care and more taxes on the middle class.
Speaker Pelosi famously warned Americans that Congress would have to pass ObamaCare for people to find out what was in it. The American people already knew that it would be a fiscal disaster. These government reports are merely the confirmation.
We need to repeal ObamaCare and start over with real reform that gives the American people more choices, not more government.
Highlights of the report:
-- 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.