May each of you have the heart to conceive, the understanding to direct, and the hand to execute works that will leave the world a little better for your having been here. -- Ronald Reagan

Friday, October 30, 2009

Newest ObamaCare Costs at a Glance

According to CBO (Congressional Budget Office), HR 3962 will force about 50 million people on to Medicaid by 2019. The projection before this was about 35 million people. Ten year cost $450 billion.

Health Insurance Exchange will be yet another new bureaucracy. That is where one would go to get insurance if you don't have it through your employer. Through it will be decided if one has to go on Medicare or can purchase insurance. If the citizen is 400% below the Federal Poverty Level (FPL) he will be required to go on Medicaid. If one gets off Medicaid he will only be able to purchase the cheapest, least coverage policy for the first two years.

The government will mandate employers' insurance coverage. That is, the government will tell employers what coverage they have to provide. There will be an additional 8% increase in payroll tax for non-compliance.

By 2015 employers with over 100 employees, can have their employees go on the public option. Paying the fines or taxes will be less expensive for companies, so be ready, if this passes, to have to give up the employer subsidized insurance you have now. Companies will save millions in insurance costs, and you will be forced to buy government run insurance.

Built into this are $700 billion in tax increases. That's to cover the estimated $1.05 trillion cost. That's to start. This being a government, you can count on it being at least double that to start and it'll grow from there. Medicare Advantage will be cut; seasoned citizens will feel this immediately. Medicare prescription drug payments will be reduced. Seasoned citizens again hit hardest.

Obama said repeatedly, until he announced for the presidency, that he wanted a single payer program. If this passes, by 2015, pretty much everybody not self insured will be forced to get health insurance through the government. Yet Obama and the Dems keep saying it's about choice and competition. What part of government monopoly is competition? The choice? Comply with government mandates or get fined.

Washington Post, an Obama supporting Statist mouthpiece, even says premiums will be higher for all. Article here.

If the government controls your health insurance, and your health care providers, they will control what foods, what cars, what doctors, what anything they want to control. And you will have the honor of paying them more for premiums, fees and taxes so they can do so.

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