Posted on 03/09/2015 5:52:43 PM PDT by E. Pluribus Unum
NEW YORK (CNNMoney) —The Affordable Care Act's price tag continues to fall.
The president's landmark health reform law will cost $506 billion for the coming five fiscal years, according to updated projections from the Congressional Budget Office, released Monday. That's 29% less than the agency's projection back in March 2010.
Among the reasons for the decline:
-- The Supreme Court's 2012 ruling that allowed states to decide whether to expand Medicaid.
-- The continued slow growth of health care spending.
-- Enrollment in Affordable Care Act insurance exchanges has ramped up more slowly than anticipated.
In its latest projection, CBO also revised its estimates for where people are getting insurance.
It now expects only 7 million people to lose job-based coverage by 2025, down from 9 million. That's because new data shows that fewer people had work-based plans than the CBO thought.
Conversely, Medicaid enrollment before the expansion was higher than originally thought. So CBO only expects 14 million more folks to enroll by 2025, rather than 16 million.
Fewer Americans lacked coverage than originally projected, CBO said.
Only 22 million will enroll in the Affordable Care Act individual exchanges, while 25 million will remain uninsured by 2025, according to the new projections. That's 2 million less in each category. As a result, the feds will spend 20% less on subsidizing low- and moderate-income Americans on the exchanges. And it will collect 6.4% less in penalties from the uninsured.
Health care spending, however, won't stay muted for much longer, the agency said. Private health insurance spending per enrollee grew an average of 1.8% between 2006 and 2013. But it's expected to ramp up to 5.6%, on average, between 2016 and 2025.
Overall, the Affordable Care Act will cost the federal government $1.2 trillion between 2016 and 2025, 11% less than the CBO projected in January.
This revision in Affordable Care Act costs contributed to the CBO lowering its projected federal deficit estimate by $431 billion.
Wasn’t there a thread earlier today saying just the opposite ?
LOL! Ha-ha-ha!
Hard-har-har!
Jokety-joke-joke!
What a crock-o-poo!
Yup.
Oh yeah sure riiiighttt
Obamacare exchange customers could see a significant spike in their premiums over the next few years as insurers face pressures from both the government and the marketplace, the Congressional Budget Office said Monday in a new analysis finding Obamacare is both cheaper and less comprehensive than predicted.
http://www.washingtontimes.com/news/2015/mar/9/obamacare-premiums-spike-law-cheaper-expected/
Read what it’s saying. They will be covering less people therefore the cost goes down. Of course, Medicare and Medicaid will be WAAAAAAAY up leaving the states on the hook. Peter will spend less because Paul is spending more.
It’ll cost the government less- because it’s going to cost people more, much more LOL!
Actually it’ll also cost the government in ways the CBO didn’t consider.
Beam me up, Mr Speaker ... there's no intelligent life in the chamber
(Yes, I DO miss Trafficant ... he had more balls made of solider brass than all the GOPe put together .... hell ... Sarah Palin has more balls)
If there is anything that makes ACA cost less it’s because the enrollment numbers are way less than they thought they’d be. Because the costs for plans have been shooting way up annually just like conservatives predicted.
thanx, ltc8k6
If it’s declared unlawful the cost will be even less.
It’ll “cost less than thought” but premiums will shoot through the roof. It’s complex math, doncha know.
Put a few more of Obama’s people on the review and in no time the price will be so low that the doctors will be paying us to call them. More BS from the Community Organizers official BS’ers.
That’s the direct cost. There are indirect costs, due to further reductions in the velocity of money (because of the high costs of Obamacare to the average citizen), so that income tax receipts are going to drop further.
What’s really sad is that there is approx. 50% of the population that will actually believe this BS.
I guess they're lowering gov. costs by raising consumer costs. Think they will lower taxes though? lol
Actually, there is a coming change that will significantly reduce the cost to the fed gov of the ACA. Just after ‘16 the risk corridors terminate. This will force the insurance companies to price their plans according to total expected cost not the discount they give now because of back door federal funding. Thus assuming SCOTUS screws the pooch, in ‘17 the plans become unaffordable even with subsidies. That will death spiral the ACA likely in less then 2 years, which is what the plan has always been. Unfortunately for the corruptocrates, only those who drank the most Kool-Aid think single payer fed run healthcare is doable. And to think we’ve only spent $17,000 per enrollee to create this clusterf**k(not including subsidies) Man the feds really know how to be slower, worse, more expensive.
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