Forbes: Medicare Actuary: Obamacare Will Triple the Growth Rate of Net Insurance Costs

In commentary on Forbes, Avik Roy outlines how the health care overhaul will increase the growth rate of insurance costs. "Well, the Office of the Actuary in the Centers for Medicare and Medicaid Services recently put out its annual projections of national health care spending. And, contrary to the President, the actuaries find that ObamaCare will dramatically increase the near-term growth rate of health care costs. In 2014, the actuaries find that growth in the net cost of health insurance will increase by nearly 14 percent, compared to 3.5% if PPACA had never passed. The growth rate of private insurance premiums will rise to 9.4 percent, from 5.0 percent under prior law: an 88% increase."

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Comment by JL Gawlik on August 10, 2011 at 12:32pm
This is a no brainer after watching that bill get passed and Pelosi & Reid cooked the figures to get a positive CBO rating, those two should of been told to step down when the lies were found per Cantor and Ryan asking to for a review of the figures because they did not add up. They found the half trillion dollars taken out of Medicare (WHY aren't Seniors ticked off about that?) was used twice as a credit, Bachmann found over $1,464,000,000.00 billion dollars was HIDDEN from Congress, and NOT appropriated legally to jump start Obama care, that was discovered just this past year! How many people are going to be happy when they sell property or their home, a 3.8% tax is added on top of everything else and it will go to Obamacare. If your house sells for $200,000.00 then you are taxed $7,600.00 to the Federal government. Goodness only knows what else is in that massive bill that has yet to be discovered. NO bill should ever be passed without being throughly read and every Congressional member who voted on that bill should be removed from office. This bill is going to sink our very Liberties and Freedoms.

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