Increases Costs, Taxes and Spending,
and Reduces Access to Quality Healthcare
Increases Costs and Bureaucracy
- Obamacare raises premiums for young people by as much as 200%
- Obamacare will make Americans spend 190 million hours per year on compliance
- Obamacare creates 159 new boards, commissions, and government offices, such as IPAB, the Independent Payment Advisory Board, which takes away Americans’ power to shape their own health policy through their representatives in Congress.
Prevents Job Creation and Hurts Businesses
- Obamacare will force 15% of hospitals out of business
- Obamacare imposes enormous costs on employers. Employers who fail to offer “affordable” coverage will be forced to pay a $3,000 penalty for every employee who receives a subsidy through the exchange. Employers who offer no insurance at all will have to pay a tax of $2,000 for every full time employee.
- According to the CBO, Obamacare noncompliance costs for American businesses are estimated to total $52 billion.
Increases Taxes and Spending
- The CBO’s 2013 ten-year spending estimate for Obamacare is $1.88 trillion.
- Obamacare includes 21 new or increased taxes that will cost taxpayers about $1.1 trillion in the next decade. Included is $165 billion in new taxes and fees on private health plans, drug manufacturers, and device makers, much of which will be passed on to consumers.
- Obamacare spends $1 trillion in subsidies
- Obamacare will spend $638 billion to expand Medicaid to enroll 26 million NEW enrollees, most of whom are able-bodied, childless adults
Reduces Access to Quality Healthcare
- Obamacare will force 15% of hospitals out of business because of cuts to providers.
- Obamacare forces 7 million workers to lose their employer sponsored coverage
- Obamacare forces 80% of small employer plans to lose their grandfathered status
- Despite $1 trillion in available subsidies, middle-class households earning as little as $46,000 will receive no premium assistance while being forced to accept premium increases as a result of Obamacare mandates going into effect in 2014.
- Even after receiving subsidies, Americans earning as little as $25,000 will still pay more in costs.
- By 2019, Obamacare will reduce employer-based insurance coverage by 20 million people.