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Health Care Spending Crisis Coming; Obamacare Adding Fuel to the Fire
Posted By Alyene Senger On September 17, 2013 @ 5:09 pm In Capitol Hill,Front Page,Obamacare | Comments Disabled
Today’s Congressional Budget Office (CBO) report  reiterates the long-standing and obvious fact that there is a health care spending crisis approaching, resulting largely from the structurally flawed Medicare program and made significantly worse by Obamacare’s new unfunded entitlement spending.
The key points:
Worse, as the report states, “about one-fifth of federal spending for the major health care programs in 2023 would finance care for able-bodied nonelderly people.” Indeed, a vast majority of those covered by Obamacare’s Medicaid expansion will be childless adults . This is in conjunction with the subsidization of coverage in Obamacare’s exchanges for those earning up to 400 percent of the federal poverty level (i.e., in 2013, individuals earning up to $46,000 annually and a family of four earning up to $94,000 annually).
As the existing entitlements are still on track to bankrupt taxpayers, Obamacare’s spending additions make matters far worse, to say the least.
Article printed from The Foundry: Conservative Policy News from The Heritage Foundation: http://blog.heritage.org
URL to article: http://blog.heritage.org/2013/09/17/health-care-spending-crisis-coming-obamacare-adding-fuel-to-the-fire/
URLs in this post:
 Image: http://blog.heritage.org/wp-content/uploads/health-care-costs-money.jpg
 report: http://www.cbo.gov/sites/default/files/cbofiles/attachments/44521-LTBO_0.pdf
 inevitable demographic challenge: http://www.heritage.org/research/reports/2013/03/medicares-demographic-challenge-and-the-urgent-need-for-reform
 structural reforms: http://www.heritage.org/research/reports/2011/11/the-second-stage-of-medicare-reform-moving-to-a-premium-support-program
 childless adults: http://medicaid.gov/Medicaid-CHIP-Program-Information/By-Topics/Financing-and-Reimbursement/Downloads/medicaid-actuarial-report-2011.pdf
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