Obama Miserable Failure: 4 Million Lose Health Coverage Under Obamacare

Obama Miserable Failure by Chris Banescu –
Yet more evidence is coming out that government socialist “solutions” never work as intended and always make an existing problem much worse. Two different news stories highlight the real consequences of the destructive and misguided ObamaCare regulations (known as the “Patient Protection and Affordable Care Act”). Rather than helping, the ObamaCare rules are wreaking havoc on companies, individuals, and medical institutions, spreading more misery to all of America.

Instead of reducing costs and helping people, it’s dramatically raising costs (estimates have doubled to $1.76 TRILLION) and hurting Americans (4 Million will lose coverage), while gradually destroying our world-class health care system which America has created based on ethical capitalism, competition, and free-market principles. Conservatives warned this was going to happen and this is exactly what we’re witnessing.

Of course, these objective (non-partisan) facts and clear results before us will not deter the liberals, leftists, and progressives who cannot be bothered with reality. The left will continue to support the suicidal socialized medicine model that has been a failure throughout history. As long as they “feel” it works, it must be working. Meanwhile the rest of us are faced with the spreading devastation of arbitrary and oppressive government mandates that threaten our lives, health, and safety. How much more will American endure before they say “No More”?

Four Million Fewer Covered at Work Under Obamacare
by Keith Koffler – March 14, 2012

A new report by the nonpartisan Congressional Budget Office states that by 2016, Obamacare will result in 4 million people fewer people getting health insurance coverage from their employers.

The estimate is a vast increase from the CBO prediction just a year ago that 1 million would no longer obtain coverage from their employers. And it raises substantial questions about the veracity of one of Obama’s key pledges in selling the health care law – that everyone who wants to keep their current health insurance plan and doctor could do it.

It’s not clear how many of the 4 million would be forced out as a result of employers dropping coverage. But it can be assumed that many will indeed lose their insurance and have to seek it elsewhere, since few people would seem likely to intentionally abandon coverage provided by an employer.

And many employers have already indicated that they would rather drop coverage and incur fees from the government than continue to provide it.

According to a survey published last summer by the Towers Watson consulting firm, almost one in ten medium to large size employers said they are likely or very likely to end health benefits for their workers.

During the debate over the health care law, Obama repeatedly and emphatically asserted everyone would be able to keep their current insurance if they wanted, even suggesting those who said otherwise were not telling the truth. Here’s an example.

The CBO also projects that 2 million fewer uninsured will gain insurance under the law than previously thought, with the total uninsured population declining by 30 million instead of 32 million.

While the law increases the number of people with health insurance, it does not provide for universal insurance. Instead, the number of non-elderly legal residents with insurance will rise from 82 percent in 2012 to 93 percent in 2022.

HT: WhiteHouseDossier

CBO: Obamacare to cost $1.76 trillion over 10 yrs
Philip Klein – March 13, 2012

President Obama’s national health care law will cost $1.76 trillion over a decade, according to a new projection released today by the Congressional Budget Office, rather than the $940 billion forecast when it was signed into law.

Democrats employed many accounting tricks when they were pushing through the national health care legislation, the most egregious of which was to delay full implementation of the law until 2014, so it would appear cheaper under the CBO’s standard ten-year budget window and, at least on paper, meet Obama’s pledge that the legislation would cost “around $900 billion over 10 years.” When the final CBO score came out before passage, critics noted that the true 10 year cost would be far higher than advertised once projections accounted for full implementation.

Today, the CBO released new projections from 2013 extending through 2022, and the results are as critics expected: the ten-year cost of the law’s core provisions to expand health insurance coverage has now ballooned to $1.76 trillion. That’s because we now have estimates for Obamacare’s first nine years of full implementation, rather than the mere six when it was signed into law. Only next year will we get a true ten-year cost estimate, if the law isn’t overturned by the Supreme Court or repealed by then. Given that in 2022, the last year available, the gross cost of the coverage expansions are $265 billion, we’re likely looking at about $2 trillion over the first decade, or more than double what Obama advertised.

HT: Washington Examiner

Comments

  1. ObamaCare:
    The efficiency of the Postal Service.
    The sustainability of Social Security.
    And all the compassion of the IRS!