Obamacare Gets Pricey!

Our Take!

It should come as no surprise that the Congressional Budget Office is predicting big premium increases for Obamacare. After all, THIS IS EXACTLY what conservatives warned the nation about on countless occasions. The reality is that whenever the government tries to manipulate the market the way it did with Obamacare, costs inevitably skyrocket.

By Stephen Dinan, The Washington Times

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.

The CBO said the exchanges and other new medical coverage under the Affordable Care Act will cost the government slightly more than half a trillion dollars over the next five years, which is about $200 billion less than than the $710 billion projected when the law was enacted in 2010.

Some of that is due to tweaks to the law, and to changing economic conditions, but the CBO and its fellow scorekeeper, the Joint Committee on Taxation, said medical care costs have also grown at a slower rate than projected, helping lower payments for both private care and for government programs such as Medicaid and Medicare. Read More …

[Published by The Washington Times]

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