Nothing to see here: Obamacare to cost $50K per person covered
posted at 1:21 pm on January 27, 2015 by Jazz Shaw
Buried deep inside the latest CBO budget outlook report there is some shocking (by which I mean not shocking to anyone who has been paying attention) information on the effects of ObamaCare. You can forget about all the promises that were made by the administration and their Democrat allies during the debate… they were
lying clearly inaccurate in their estimates. So how bad is it? The Daily Mail came out with the first report.
It will cost the federal government – taxpayers, that is – $50,000 for every person who gets health insurance under the Obamacare law, the Congressional Budget Office revealed on Monday.
The number comes from figures buried in a 15-page section of the nonpartisan organization’s new ten-year budget outlook.
The best-case scenario described by the CBO would result in ‘between 24 million and 27 million’ fewer Americans being uninsured in 2025, compared to the year before the Affordable Care Act took effect.
Pulling that off will cost Uncle Sam about $1.35 trillion – or $50,000 per head.
If you want to read the report yourself, it’s tucked away back in Appendix B of the document. (.pdf format) The total bill over ten years is closing in on the two trillion mark, and the various taxes and fees imposed under Obamacare are only going to make up for $643B of it. So I guess we really did have to pass the bill to find out what was in it.
At this point it is worth asking if maybe the entire fight could have been avoided without crafting such an elaborate system. Assume for arguments’ sake that the Democrats were going to win on the general subject of having some form of massive government program for health insurance. Assume further that the insurance industry was going to agree to go along with some new government mandates about having to cover pre-existing conditions and older children living at home, etc. in exchange for an assurance that they would have a bunch of new customers paying them. At that point, the bill could have been chopped down to about ten pages in length.
The plan is covering 27 million people with estimates of that growing by 25% over the next decade. A mid-range quality health care plan through most employers – including the employer contribution – can be had for roughly $5,400 per year. That works out to a little less than 150 billion dollars to just buy all of those people a health plan under the old system and the insurers would have been thrilled. The crippled, complicated government web site could have been stripped down to just ask how much you make each year and, based on that, issue you a voucher for a health insurance plan from a company that covers your area. We wouldn’t have liked it, but it would have come in at one heck of a cheaper rate and the debate would be over.
Rather than an exit question, we’ll just close with an observation. You were lied to. Again.