Seven million will lose insurance under Obama health law
Page 1 of 1
Seven million will lose insurance under Obama health law
http://www.washingtontimes.com/blog/inside-politics/2013/feb/5/obama-health-law-will-cost-7-million/
President Obama's health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released Tuesday.
CBO said that this year's tax cuts have changed the incentives for businesses and made it less attractive to pay for insurance, meaning fewer will decide to do so. Instead, they'll choose to pay a penalty to the government, totaling $13 billion in higher fees over the next decade.
But the non-partisan agency also expects fewer people to have to pay individual penalties to the IRS than it earlier projects, because of a better method for calculating incomes that found more people will be exempt.
Overall, the new health provisions are expected to cost the government $1.165 trillion over the next decade — the same as last year's projection.
With other spending cuts and tax increases called for in the health law, though, CBO still says Mr. Obama's signature achievement will reduce budget deficits in the short term.
During the health care debate Mr. Obama had said individuals would be able to keep their plans.
Read more: http://www.washingtontimes.com/blog/inside-politics/2013/feb/5/obama-health-law-will-cost-7-million/#ixzz2K60w0qCV
Follow us: @washtimes on Twitter
President Obama's health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released Tuesday.
CBO said that this year's tax cuts have changed the incentives for businesses and made it less attractive to pay for insurance, meaning fewer will decide to do so. Instead, they'll choose to pay a penalty to the government, totaling $13 billion in higher fees over the next decade.
But the non-partisan agency also expects fewer people to have to pay individual penalties to the IRS than it earlier projects, because of a better method for calculating incomes that found more people will be exempt.
Overall, the new health provisions are expected to cost the government $1.165 trillion over the next decade — the same as last year's projection.
With other spending cuts and tax increases called for in the health law, though, CBO still says Mr. Obama's signature achievement will reduce budget deficits in the short term.
During the health care debate Mr. Obama had said individuals would be able to keep their plans.
Read more: http://www.washingtontimes.com/blog/inside-politics/2013/feb/5/obama-health-law-will-cost-7-million/#ixzz2K60w0qCV
Follow us: @washtimes on Twitter
airgunbuff1- Admin
- Posts : 1535
Join date : 2011-07-23
Similar topics
» Obama is about to lose another war.
» Secret retirement plans: Does Obama expect to lose? check out the pics
» Obama lied my health plan died
» Obama Screws Rural Republican Voters With Higher Health Care Premiums and Less Competition
» Always another surprise around the corner on this health care plan..... just in case you hadn't realized, your home becomes part of your health care after 2012.
» Secret retirement plans: Does Obama expect to lose? check out the pics
» Obama lied my health plan died
» Obama Screws Rural Republican Voters With Higher Health Care Premiums and Less Competition
» Always another surprise around the corner on this health care plan..... just in case you hadn't realized, your home becomes part of your health care after 2012.
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum