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Archive for Friday, April 23, 2010

Report: Health overhaul will increase nation’s tab

April 23, 2010

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— President Barack Obama’s health care overhaul law will increase the nation’s health care tab instead of bringing costs down, government economic forecasters concluded Thursday in a sobering assessment of the sweeping legislation.

A report by economic experts at the Health and Human Services Department said the health care remake will achieve Obama’s aim of expanding health insurance — adding 34 million Americans to the coverage rolls.

But the analysis also found that the law falls short of the president’s twin goal of controlling runaway costs, raising projected spending by about 1 percent over 10 years. That increase could get bigger, however, since the report also warned that Medicare cuts in the law may be unrealistic and unsustainable, forcing lawmakers to roll them back.

The mixed verdict for Obama’s signature issue is the first comprehensive look by neutral experts.

In particular, the warnings about Medicare could become a major political liability for Democratic lawmakers in the midterm elections. The report projected that Medicare cuts could drive about 15 percent of hospitals and other institutional providers into the red, “possibly jeopardizing access” to care for seniors.

The report from Medicare’s Office of the Actuary carried a disclaimer saying it does not represent the official position of the Obama administration. White House officials have complained that such analyses have been too pessimistic and lowball the law’s potential to achieve savings.

The report acknowledged that some of the cost-control measures in the bill — Medicare cuts, a tax on high-cost insurance and a commission to seek ongoing Medicare savings — could help reduce the rate of cost increases beyond 2020. But it held out little hope for progress in the first decade.

“During 2010-2019, however, these effects would be outweighed by the increased costs associated with the expansions of health insurance coverage,” wrote Richard S. Foster, Medicare’s chief actuary. “Also, the longer-term viability of the Medicare ... reductions is doubtful.” Foster’s office is responsible for long-range costs estimates.

Republicans said the findings validate their concerns about Obama’s 10-year, nearly $1 trillion plan to remake the nation’s health care system.

“A trillion dollars gets spent, and it’s no surprise — health care costs are going to go up,” said Rep. Dave Camp, R-Mich., a leading Republican on health care issues. Camp added that he’s concerned the Medicare cuts will undermine care for seniors.

Comments

just_another_bozo_on_this_bus 4 years, 8 months ago

"President Barack Obama’s health care overhaul law will increase the nation’s health care tab instead of bringing costs down,"

President Barack Obama’s health care overhaul law will increase the profits of health Big Pharma, Big Insurance and Big Health instead of bringing costs down"

There, fixed it.

Richard Heckler 4 years, 8 months ago

AS we speak $1.2 trillion health insurance dollars flow into the most expensive health insurance cookie jar. Which covers about 60% of those with insurance.

Under IMPROVED Medicare Insurance for ALL that same $1.2 trillion would cover all in the USA.

How will IMPROVED Medicare Insurance for All reduce costs enough to cover all in the USA and save an estimated $350 billion annually?

• Eliminates med insurance industry high dollar bureaucracy • Eliminates profits • Eliminates high corporate salaries • Eliminates advertising Eliminates billions in over charges • Eliminates sales commissions • Eliminates high dollar Shareholder dividends • Eliminates Special interest campaign dollars Eliminates Golden parachutes

In general eliminates reckless spending of YOUR health care dollars

• Eliminates Insurers Wrongfully Charging Consumers Billions http://www.washingtonpost.com/wp-dyn/content/article/2009/06/24/AR2009062401636.html

Flap Doodle 4 years, 8 months ago

What was your first clue, Lieutenant Columbo?

Richard Heckler 4 years, 8 months ago

IMPROVED Medicare Insurance for all also:

Eliminates that revolving door whereby insurance staffers become senate staffers and senate staffers become insurance staffers http://www.pbs.org/moyers/journal/blog/2009/10/bill_moyers_michael_winship_in.html#more

Flap Doodle 4 years, 8 months ago

Why aren't you still plugging 676, merrill?

Flap Doodle 4 years, 8 months ago

In other news: “Think of this as a companion piece to the sudden recognition that massive government interventions cost more than they save. On Wednesday, Kathleen Sebelius appeared before the House Appropriations Committee to discuss the appropriations for high-risk pool subsidies that ObamaCare provides to the states. The bill appropriated $5 billion for this program, but as Sebelius tells the committee, that was just a spit-balling number. In reality, no one has the faintest clue how much money will actually get spent on this program, via Breitbart TV and Naked Emperor News:... CMS is the actuary for Medicare and Medicaid, which warned that the forecasting in ObamaCare was hopelessly optimistic, and this appears to be one of those areas in which they’ll be proven right more quickly than most. The states will face billions of dollars each in new mandated Medicaid spending. What’s the likelihood of them not joining a subsidy program to cover high-risk enrollees? About the same probability of Obama scheduling a prime-time press conference tonight or skipping his golf game tomorrow. Not only will the $5 billion disappear twice as fast as Sebelius and the Obama administration predicted, it may go even faster than that. But don’t worry — Congress knew exactly what they were doing when they passed the bill. Riiiiiiiiiiiight.” http://hotair.com/archives/2010/04/23/sebelius-we-dont-know-what-obamacare-costs-will-be/

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