Tuesday, May 04, 2010
'Fearmongers' Were Right about Obamacare
The ink was barely dry on President Barack Obama's signature before the RAND Corp. released a report concluding that, not only would the hard-won health care package fail to curb health insurance premium increases, but the bill itself would drive premiums for young people up as much as 17 percent.
This should not have been a surprise: the Congressional Budget Office had already warned that the plan would do almost nothing to reduce premium hikes. And when New York implemented the same type of insurance reforms in the 1980s, it led to an increase of nearly $500 per year for young people. But somehow, the media didn't pay much attention.
And, of course, during the health care debate, no presidential speech was complete without a promise that "if you have health insurance today, and you like it, you can keep it." But the Congressional Budget Office now says that as many as 10 million workers will lose their current insurance under Obamacare. Some of those workers will have to buy new insurance through the government-run exchanges. Millions more will be thrown onto Medicaid.
In addition, the Center for Medicare and Medicaid Studies reports that half of seniors currently enrolled in the Medicare Advantage program will lose their coverage under that program and be forced back onto traditional Medicare.
And how many times did President Obama criticize the United States for having the highest health care spending in the world? Well, late last month the government's chief actuary released his report on the bill, showing that the bill will actually increase health care spending by $311 billion over 10 years....