4/27/2010

Cost of Health care bill much higher than previously claimed

Apparently, Sebelius was given this report eight days before the House vote and she sat on this, not releasing the information until well after the vote.

The Obama administration on Friday defended the new health insurance law after a report from its own Medicare services agency showed the provisions will increase the nation's health care tab over the next 10 years instead of bringing costs down.

The sobering assessment by the Centers for Medicare and Medicaid Services concludes what Republicans had warned about during heated debate -- that the double-counting of Medicare spending -- as both savings and as a means to shore up the debt-ridden government fund for seniors' health care -- means the cost is unrealistic.

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, or $311 billion, up from the $222 billion previous estimated. . . .

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2 Comments:

Blogger Sandy said...

Is there a source you can cite for the 8 days prior to vote claim? Thanks.

4/27/2010 3:38 AM  
Blogger Harry Schell said...

Sandy,
See www.htoair.com. There are two straws in the air, though.

It is reported that the head of the Medicare Actuary office has denied that the report was finished before the vote. Haven't been able to find anything else on that.

Second is...what would they be estimating to? Rhetorical question, but lots of people who voted for the damn thing didn't understand it, and I bet changes were happening all the time up to the vote.

The CBO numbers, being a static analysis, has to be wrong and low on the cost side...behavior will change in response to the law. The second 10 years also shows a deficit of about $250B annually, using CBO numbers.

4/27/2010 4:39 PM  

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