The View From 1776

Obamacare Pushes Healthcare Costs Higher

A Wall Street Journal article in the September 8, 2010, edition reports that the Federal government’s own analysis rebuts cost-saving claims by Democrat-Socialist leaders.  Healthcare cost increases are projected to be almost 40% higher in 2014 under Obamacare than they would have been without it.

Read excerpts below, if you are not an online subscriber to the Journal.

Health Outlays Still Seen Rising
By Janet Adamy

The health-care overhaul enacted last spring won’t significantly change national health spending over the next decade compared with projections before the law was passed, according to government figures released Thursday.

The report by federal number-crunchers casts fresh doubt on Democrats’ argument that the health-care law would curb the sharp increase in costs over the long term, the second setback this week for one of the party’s biggest legislative achievements…

The law’s early provisions will increase overall health-care spending, the report says, while adding to benefits for consumers. The creation of new high-risk insurance pools, a requirement that children can stay on their parents’ insurance plans until age 26 and other early provisions will increase U.S. health expenditures by $10.2 billion through 2013, the report says…

U.S. health spending is projected to rise 9.2% in 2014, up from the 6.6% projected before the law took effect [i.e., 39.4% higher].