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ObamaCare Costs Soar

- September 19, 2013

Obama Tries To Rewrite Reality As Health Care Costs Continue To Climb

EARLIER THIS WEEK, OBAMA SAID OBAMACARE WASN'T MAKING HEALTH CARE MORE EXPENSIVE

President Obama: "So There Is No Evidence At All That - This Is Somehow - Making Health Care More Expensive." PRESIDENT OBAMA: "Well-- look, the-- what we've seen is-- is the-- the-- the-- lowest increase in health care costs in 50 years-- over the last several years. So there is no evidence at all that-- this is somehow-- making health care more expensive. There's a lot of evidence that it's helping to make it cheaper." (Noticias Telemundo, 9/17/13)

CMS ACTUARIES FIND THAT OBAMACARE IS INCREASING HEALTH CARE COSTS

Health Care Spending "Will Jump By 6.1 Percent Next Year" As ObamaCare Is Enacted. "The nation's health care spending will jump by 6.1 percent next year as the big coverage expansion in President Barack Obama's overhaul kicks in, government experts predicted Wednesday. (Andrew Miga, "Government Says Health Spending To Jump Next Year," The Associated Press, 9/18/13)

  • "That's More Than 2 Percentage Points Higher Than The Growth Rate Forecast For This Year ." (Andrew Miga, "Government Says Health Spending To Jump Next Year," The Associated Press, 9/18/13)

ObamaCare Is One Of The Reasons For The Growth In Spending. "But starting in 2014 growth in national health spending will accelerate to 6.1 percent, reflecting expanded insurance coverage through the ACA, through either Medicaid or the marketplaces." (Chris Fleming, "U.S. Health Spending Growth Projected TO Average 5.8 Percent Annually Through 2022," Health Affairs Blog , 9/18/13)

  • Without ObamaCare, "[T]he Projected Growth Next Year Would Be 4.5 Percent." (Andrew Miga, "Government Says Health Spending To Jump Next Year," The Associated Press, 9/18/13)

The Recent Slowdown In Health Care Spending Will End

"The Four-Year Slowdown In U.S. Health-Care Spending Will End Next Year" And There Is No Sign That ObamaCare Will Curb Costs According To Government Actuaries. "The four-year slowdown in U.S. health-care spending will end next year, and there is no sign the Affordable Care Act will significantly curb the acceleration in costs, government actuaries said in a report." (Alex Wayne, "Recession Not Health Law May Be Responsible For Cost Curb," Bloomberg, 9/18/13)

"This Report Won't Be Good News For Those Who Have Argued That The Affordable Care Act Would Reduce Costs." (Alex Wayne, "Recession Not Health Law May Be Responsible For Cost Curb," Bloomberg, 9/18.13)

  • The Actuaries "Found No Evidence Of Evidence Of Costs Deviating Much From The Economy" After Examining 50 Years Of Data. "The report also contradicts independent economists who had attributed spending reductions more to the Affordable Care Act and changes in the health system, such as shifts in employer benefits. The CMS actuaries, who track medical spending by the government, individuals and insurers, examined 50 years of data and found no evidence of costs deviating much from the economy." (Alex Wayne, "Recession Not Health Law May Be Responsible For Cost Curb," Bloomberg, 9/18/13)

Under ObamaCare, National Spending On Health Care Will Outpace The Growth Of The Economy

Kaiser Headline: "Health Spending Over The Coming Decade Expected To Exceed Economic Growth." (Jordan Rau, "Health Spending Over The Coming Decade Expected To Exceed Economic Growth," Kaiser Health News , 9/18/13)

In 2022, Health Spending Is Projected To Climb To Roughly A Fifth Of GDP. "As a result, the share of GDP devoted to health care is projected to rise from 17.9 percent in 2012 to roughly a fifth of GDP by 2022." (Sean P. Keehan, et al, "National Health Expenditure Projections, 2012-22: Slow Growth Until Coverage Expands And Economy Improves," Health Affairs, no. (2013))

  • Health Care Spending Is Projected To Outpace The Growth Of The Economy. "Over the whole projection period, 2012-22, national health spending is estimated to grow at an average rate of 5.8 percent per year, which is 1.0 percentage point faster than the average annual economic growth during the period." (Sean P. Keehan, et al, "National Health Expenditure Projections, 2012-22: Slow Growth Until Coverage Expands And Economy Improves," Health Affairs, no. (2013))

Health Affairs Headline - 2013: "U.S. Health Spending Growth Projected To Average 5.8 Percent Annually Through 2022." (Chris Fleming, "U.S. Health Spending Growth Projected TO Average 5.8 Percent Annually Through 2022," Health Affairs Blog , 9/18/13)

  • Health Affairs Headline - 2012: "Health Spending Growth Projected To Average 5.7 Percent Annually Through 2021." (Chris Fleming, "Health Spending Growth Projected To Average 5.7 Percent Annually Through 2021," Health Affairs Blog , 6/12/12)

Health Care Spending Will Grow An Annual Rate Of 5.8 Percent For 2012 Through 2022, "1 Percentage Point Faster Than The Expected Growth In The Gross Domestic Product." (Chris Fleming, "U.S. Health Spending Growth Projected TO Average 5.8 Percent Annually Through 2022," Health Affairs Blog , 9/18/13)

  • "The Health Care Share Of GDP By 2022 Is Projected To Rise To 19.9 Percent From Its 2011 Level Of 17.9 Percent." (Chris Fleming, "U.S. Health Spending Growth Projected TO Average 5.8 Percent Annually Through 2022," Health Affairs Blog , 9/18/13)

Premiums For Americans Will Increase Under ObamaCare

Under ObamaCare, Premiums Are "Expected To Accelerate To 6.0 Percent, Up From 3.2 Percent In 2013. "Improved coverage for those who currently have individually purchased insurance is also expected to influence higher spending growth. On a per enrollee basis, growth in private health insurance premiums is expected to accelerate to 6.0 percent, up from 3.2 percent in 2013." (Sean P. Keehan, et al, "National Health Expenditure Projections, 2012-22: Slow Growth Until Coverage Expands And Economy Improves," Health Affairs, no. (2013))

The Government Will Finance Nearly Half Of All Health Care Spending Due To ObamaCare

"By 2022 Health Spending Financed By Federal, State, And Local Governments Is Projected To Account For 49 Percent Of National Health Spending And To Reach A Total Of $2.4 Trillion." (Sean P. Keehan, et al, "National Health Expenditure Projections, 2012-22: Slow Growth Until Coverage Expands And Economy Improves," Health Affairs, no. (2013))

  • The Rise In Government Health Spending Is "Largely Attributable" To ObamaCare. "Increases in the federal government's share are largely attributable to expanded Medicaid eligibility, premium and cost-sharing subsidies for coverage through Marketplace plans, and growth in Medicare enrollment as baby boomers continue to enter the program." (Sean P. Keehan, et al, "National Health Expenditure Projections, 2012-22: Slow Growth Until Coverage Expands And Economy Improves," Health Affairs, no. (2013))

ObamaCare Will Add Hundreds Of Billions In Extra Health Spending

By 2022, ObamaCare Will "Increase Cumulative Health Spending By $621 Billion." "By 2022 the Affordable Care Act is projected to reduce the number of uninsured people by thirty million, add approximately 0.1 percentage point to average annual health spending growth over the full projection period, and increase cumulative health spending by $621 billion." (Sean P. Keehan, et al, "National Health Expenditure Projections, 2012-22: Slow Growth Until Coverage Expands And Economy Improves," Health Affairs, no. (2013))


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