The Republicans thought the health care reform bill would be bad, bad, bad for America.
The socialists thought it would lead to more and more government involvement in the health care industry, until single payer was created.
It seems they were both right:
The White House is trying to spin the new report from Medicare’s chief actuary Richard Foster as only half bad because it concludes that, while costs will increase, only 23 million people will remain uninsured (instead of 24 million previously estimated).
But looking at the details of Foster’s report shows the many, many danger signs for Obamacare and how many of its promises will be broken:
1. People losing coverage: About 14 million people will lose their employer coverage by 2019, as smaller employers terminate their plans and workers who currently have employer coverage enroll in Medicaid. Half of all seniors on Medicare Advantage could lose their coverage and the extra benefits the plans offer.
2. Huge fines for companies: Businesses will pay $87 billion in penalties in the first five years after the fines trigger in 2014, partly because they can’t afford to offer expensive, government-mandated coverage and partly because some of their employees will apply for taxpayer-subsidized insurance.
3. Higher costs for consumers: Tens of billions of dollars in new fees and excise taxes will be “passed through to health consumers in the form of higher drug and devices prices and higher premiums,” according to Foster. A separate report shows small businesses will be hit hardest.
4. A program created to fail: The new “CLASS Act” long-term-care insurance program will face “a significant risk of failure,” according to Foster. Indeed, he finds, “there is a very serious risk that the problem of adverse selection will make the CLASS program unsustainable.”
5. Spending increases: Under the new law, national health spending will increase by $311 billion over the coming decade. And instead of bending the federal spending curve down, it will move it upward “by a net total of $251 billion” over the next decade.
6. “Free-riders”: An estimated 23 million people will remain uninsured in 2019, roughly 5 million of whom would be undocumented aliens; the remainder would be the 18 million who decline to get coverage and who will pay the penalty.
7. Spending reductions are fiction: Estimated reductions in the growth rate of health spending “may not be fully achievable” because “Medicare productivity adjustments could become unsustainable even within the next ten years, and over time the reductions in the scope of employer-sponsored health insurance could also become an issue.”
8. You can’t keep your doctor: Fifteen percent of all hospitals, nursing homes, and other providers treating Medicare patients could be operating at a loss by 2019, which will “possibly jeopardize access to care for beneficiaries.” Doctors are threatening to drop out of Medicare because cuts in Medicare reimbursement rates mean they can’t even cover their costs.
9. Coverage but no care: A significant portion of those newly eligible for Medicaid will have trouble finding physicians who will see them, and the increased demand for Medicaid services could be difficult to meet.
The Democrats will lay all the blame at the feet of the Republicans. More than likely, the sycophantic media will echo that sentiment. Then, more controls will be called for.
The downward spiral continues.
Hat Tip: Instapundit