Black Friday for Obamacare?
The news of sticker shock to health care premiums under Obamacare had already begun to circulate today when suddenly a bad news cycle became truly awful for the high priests of Obamacare. First the American Cancer Society and other groups noticed that the Senate bill had snuck in the authority of insurance companies to set annual or lifetime benefit caps which shocked some Obamacare supporters.
And then the roof fell in: The Office of the Actuary in the Department of Health and Human Services issued a devastating assessment of the Senate plan which concluded it would drive overall health care costs higher, that it would lead to Medicare benefit cuts, that its long-term care insurance plan would likely be a costly failure, that 33 million people would remain uninsured after the plan was in effect, and that the cuts to doctors and hospitals envisioned by the plan were unsustainable, and that one in five hospitals would move to unprofitability under the plan.
This obviously non-partisan report from within the Obama Administration should be enough to kill the bill in any reasonable era, but will probably only lead the current Congressional leadership to devise changes to the plan to spend even more money in order to achieve even less reform.
Doctors: Please send me your assessment of the impact of extending Medicare to a vast new population of Americans 55 and older. My e-mail is firstname.lastname@example.org.