Via the House Republican Conference's Press Shop:
“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