Bill clears the Senate Finance Committee with repub voting for it.
Just another side of Obamacare....only employers will be allowed to buy into "group" programs. Colleges and universities that offer comparatively less expensive student group health programs will no longer be qualified to offer group pricing. The cost, nearly a $1000 increase per student when underwritten on an individual basis.
The GAO accountants price the cost of the program at $850,000,000,000 (I'll make reading easy, that's 850 billion) IN ADDITION to the existing $500,000,000,000 (that one is 500 billion) tab for Medicare/Medicaid - this is a $1.3 TRILLION dollar deal that won't pull a single person off the unemployment line.
I'm close to the medical insurance business and every medical insurer I've talked to has priced this deal at a minimum $2000 increase in addition to the employer funded portion becoming taxable income for every person that currently buys the insurance through their employer. Add and average 1500 to your wages and then pay the tax without the benefit of increased cash in your pay check. You can bet any added hit to the employer bottom line is going to be an employer pass through right down to your own pocket.
I'm not calling a foul, but could you post the source of your facts?
I'd like to read it for myself.
Sorry, wasn't the GAO, it was the congressional accounting office.
Medicare spending is growing steadily in both absolute terms and as a percentage of the federal budget. Total Medicare spending reached $440 billion for fiscal year 2007, or 16% of all federal spending. The only larger categories of federal spending are Social Security and defense. Given the current pattern of spending growth, maintaining Medicare's financing over the long-term may well require significant changes.
Note, that's just Medicare spending for 2007. The accounting projections for 2009 are at $500B due to increasing costs paid to providers and the aging population adding to the number of Americans enrolling in the program.
[I]New data from the Treasury Department show that federal outlays for Medicaid were lower in fiscal year 2006 than in 2005 even in nominal dollars (i.e., even without adjusting for inflation). Federal Medicaid expenditures were $180.6 billion in 2006, as compared to $181.7 billion in 2007. [/I]
This new health program is supplementary to, not replacing the existing Medicare program.
Summary of penalties if you opt not to buy insurance. Actually a good comparison of the three proposals on the table.
Insurance premiums could not exceed 12.5 percent of an individual’s income. People could purchase insurance through a health insurance exchange, where choices include private companies and a government option. Those who don’t purchase coverage must pay a penalty of between $1,500 and $3,800. The bill would reduce the number of uninsured legal residents to 3 percent.
The thing that caught my eye was the $1.3 trillion.
It still doesn't add up.
The $850 billion figure that you used is a 10 years cost, not annual.
Furthermore, the next paragraph from your linked article goes on to say....
"The Congressional Budget Office added that the measure would reduce federal deficits by $81 billion over a decade and probably lead to "continued reductions in federal budget deficits" in the years beyond. "
I haven't heard anyone ,Obama included, claim that they have the fix all solution to health care.
The bottom line in that Medicare has about 10 yrs left in its current state. If you or the GOP doesn't like "Obamacare", then it's time to start coming with alternatives.
Maintaining the status quo is unsustainable.
The world is ending!
Originally Posted by RYou
I'm close to the medical insurance business and every medical insurer I've talked to
Medical insurer? That is hilarious. One of the funniest posts I've ever read here. I'm sure your buds are real objective. Keep 'em coming. I need the comic relief after listening to doom and gloom nopublicans like you pontificate and predict armageddon.
You're all a bunch of hot air.
Anyone in favor of something like Obamacare has to believe what the congress says the cost will be. Nothing is ever as cheap as the congress says it will be and nothing the federal government runs ever works. The greedy politicians on both sides dip their hands into the kitty and leave iou's until it goes belly-up. Medicaid, Medicare, Social Security and even the Post office are all examples. No reason to believe this will be any different. I'll bet you that in ten years when people are waiting months for basic healthcare it will somehow get twisted into someone elses fault (I can't wait to see how they"ll blame GW for this mess). Because we all know Obama can do no wrong.
Our military is pretty good.
Originally Posted by quinn14
Very true until politicians mess with it. I think what has worked so well over the years with our military is that for the most part, politicians let the Generals run it and kept their nose out of it.
Originally Posted by FloggingSully