Obama Health Care More Costly Than First Thought
Obama health care will end up costing an estimated $115 billion additional dollars to implement according to estimates by the Congressional Budget Office. Over the next 10 years, it is believed that the health care law will increase the federal deficit by a whopping $554 billion dollars. President Obama’s own actuaries as well as the Dept. of Health and Human Services agree that health care costs to consumers will rise.
Before Obama health care passed, a report was given to Health and Human Services Secretary Kathleen Sebelius in regards to health care cost increases, but she did not want the report to influence how the bill was voted on so she did not release information contained in the report.
Savings from Medicare for the bill will be used for new programs instead of being put back in to Medicare according to AARP. So far, it looks as though cuts to Medicare are more than double what was estimated when Obama health care was first implemented, and now stand at about $575 billion.
The cuts in Medicare could have a devastating effect, driving 15% of hospitals into the red. In fact, some doctors and hospitals may not participate in Medicare any longer, as the cuts are unrealistic and cannot be sustained according to the American Medical Association. As high as 51% of employers may have to give up the health care coverage they currently have by 2013, and the impact is even greater for small-business employers according to White House documents.
Since the passage of Obama health care, the popularity of the President has had its ups and downs. Recently, media coverage of Obama has been 48% positive, while over the past few months the positive ratings for the President have ranged anywhere from 39% to 60%. While it seems that more people are showing support for the health care plan now than in its first inception, it appears that the costs over time will be astronomical.
Mark South
Obama Health Care
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