As Enrollment Closes, Health Law Falls Far Short of Projections
Law Will Cost $2 trillion in Medicare cuts, taxes, and mandates
(Washington, D.C.) – In March 2010 – when the Affordable Care Act (ACA or "Obamacare") was signed into law – the Congressional Budget Office (CBO) estimated that it would reduce the number of uninsured in America by 19 million this year. Last month – in the wake of the disastrous rollout of the law – the CBO revised this estimate downward significantly, projecting that the law would reduce the number of uninsured by 13 million. As enrollment closes today, the law is expected to underperform these estimates by a significant number.
According to the CBO, the law will cost taxpayers about $2 trillion over the next 10 years – paid for with mandates, higher taxes, and hundreds of billions of dollars in Medicare cuts. These will impact Americans more and more over time. Furthermore, analysts warn that premiums are likely to climb in the second year of the program. If so, many who purchased insurance under Obamacare this year may find themselves unable to do so again next year and face an increasing penalty.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
"The story of this health care law is a history of broken promises. Rates have not dropped by $2,500 per family. Millions couldn't keep their plans and their doctors. Medicare beneficiaries are dealing with cuts to the program. Young people are seeing big rate increases, as well as a loss of economic opportunity. And instead of enrollment being easy, it has been nearly impossible – with the healthcare.gov website down again today.
This law was well-intentioned, but it simply isn't working. And the gains that the President and his allies promised in order to sell the law just haven't materialized. Falling short, it is no surprise that support for the law continues to decline, particularly among the Hispanic community. It's time to re-examine this law completely, and to work in a bipartisan way on reforms that expand patient choice and increase competition. Our health care system can not be fixed with more government rules and mandates – as we are clearly seeing."
Learn more about "The Accountability Project" campaign and LIBRE's efforts to keep elected officials accountable for supporting the flawed Obamacare law that is causing families everywhere to lose their current health care plan and lose their full time jobs. They are elected to make the right decisions for the people – let's keep them accountable.