Smith Faculty Opinion Article
The 30 Seconds Outlook
December 15, 2010
“The President’s own chief Medicare actuary says the
Senate and House bills are bending the cost curve up.”
— Congr. Paul D. Ryan, Wall Street Journal, March 4, 2010
ObamaCare is now officially underway, but it is not too soon to begin to
assess its present and future impact on the economy, the health-care system, and
the citizenry. Here are specifics, which indicate the opposite from what was
promised (“not a single dime more”):
- Families are now paying more in healthcare premiums due to
ObamaCare mandates.
- The vast majority of businesses will be forced to change
healthcare plans due to new regulations, forcing millions to change plans
and doctors.
- Most health-care providers no longer offer child-only policies due
to ObamaCare cost increases.
- Small business is faced with increased tax filing regulations and
ObamaCare mandates.
- Millions of minorities are being forced into Medicaid, an inferior
healthcare plan.
- Older citizens in Medicare Advantage plans face $3,000-5,000
reductions in benefit payments and millions will lose this superior coverage
completely.
- The cost of subsidies to private insurers may reach $1.4 trillion
due to strong incentives for businesses to drop health coverage and drive
employees to federally subsidized plans.
- Innovative healthcare programs at the state level are threatened
by ObamaCare.
- When most spending begins in 2014, businesses and individuals will
be hit with intrusive and costly mandates.
The hope is that the Supreme Court will rule on these costly mandates.
John A. Haslem
