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ObamaCare’s Exchanges Are Estimated To Cost Taxpayers An Additional $111 Billion

RNC Communications - March 2, 2012

Obama’s 2013 Budget Isn’t Deep Enough To Hide The Fact That ObamaCare Will Cost Taxpayers An Additional $100 Billion

Cost Estimates For ObamaCare’s Exchanges “Have Ballooned By $111 Billion” Since Last Year. “Cost estimates for a key part of President Barack Obama’s health care overhaul law have ballooned by $111 billion from last year’s budget, and a senior Republican lawmaker on Friday demanded an explanation.” (“Cost Estimate For Insurance Aid Jumps $111B; Administration Cites Technical Budget Issues,” The Associated Press, 3/2/12)

  • ObamaCare’s Cost Estimates Have Increased From $367 Billion To $478 Billion. “Last year’s budget estimated the cost of the aid to be $367 billion from 2014-2021. This year’s budget puts it at $478 billion over the same period.” (“Cost Estimate For Insurance Aid Jumps $111B; Administration Cites Technical Budget Issues,” The Associated Press, 3/2/12)

The Increased Costs Are Buried Deep In Obama’s FY2013 Budget And Has “Stumped” Administration Officials Including HHS Secretary Kathleen Sebelius. “The revised health care overhaul numbers, buried deep in the president’s budget, stumped lawmakers and some administration officials earlier in the week. At a congressional hearing Tuesday, Health and Human Services Secretary Kathleen Sebelius, who is in charge of carrying out the health care law, indicated she was unaware of the changes. At issue are subsidies that will be provided under the health care law to help middle class people buy private coverage in new state insurance markets that open for business in 2014.” (“Cost Estimate For Insurance Aid Jumps $111B; Administration Cites Technical Budget Issues,” The Associated Press, 3/2/12)

  • The Obama White House Said That An Extra $111 Billion In Healthcare Spending Is  “No Cause For Alarm.” “But administration officials say the big increase is no cause for alarm and that the administration is not forecasting an erosion of employer coverage or higher insurance costs.” (“Cost Estimate For Insurance Aid Jumps $111B; Administration Cites Technical Budget Issues,” The Associated Press, 3/2/12)

The White House Contends That The Higher Cost Estimate Is Due To “Newly Signed Legislation.” “About two-thirds of the increase is due to effects of newly signed legislation that raises costs for one part of the health care law, but still saves the government money overall. The rest is due to technical changes in Treasury assumptions about such matters as the distribution of income in America.” (“Cost Estimate For Insurance Aid Jumps $111B; Administration Cites Technical Budget Issues,” The Associated Press, 3/2/12)

  • The Obama Administration Said That There Have Been “No Significant Changes” To The Exchanges. “Administration officials say the explanation lies in budget technicalities and that there are no significant changes in the program.” (“Cost Estimate For Insurance Aid Jumps $111B; Administration Cites Technical Budget Issues,” The Associated Press, 3/2/12)

The Congressional Budget Office, “Fiscal Referee For Lawmakers,” Found No “Major Impact” By “Newly Signed Legislation.”  “They say a big reason for their doubts is that the Congressional Budget Office — the fiscal referee for lawmakers — has different numbers from the Obama administration. The budget office is not forecasting a major impact on the health insurance exchanges from the same newly signed legislation that the administration says accounts for two-thirds of the $111 billion increase.” (“Cost Estimate For Insurance Aid Jumps $111B; Administration Cites Technical Budget Issues,” The Associated Press, 3/2/12)

 


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