“Much of the ACA’s tax effect resembles unemployment insurance: both encourage layoffs and discourage people from returning to work. The ACA’s overall impact on employment, however, will arguably be larger than that of any single piece of legislation since World War II.
•The ACA’s employment taxes create strong incentives to work less. The health subsidies’ structure will put millions in a position in which working part time (29 hours or fewer, as defined by the ACA) will yield more disposable income than working their normal full-time schedule.
•The reduction in weekly employment due to these ACA disincentives is estimated to be about 3 percent, or about 4 million fewer full-time-equivalent workers. This is the aggregate result of the law’s employment disincentives, and is nearly double the impact most recently estimated by the Congressional Budget Office.
•Nearly half of American workers will be affected by at least one of the ACA’s employment taxes—and this does not account for the indirect effect on others as the labor market adjusts.
•The ACA will push more women than men into part-time work. Because a greater percentage of women work just above 30 hours per week, it is women who will be more likely to drop to part-time work as defined by the ACA.”
“Knowing the way our political press works, it’s easy to predict that Barack Obama’s presidency is just about over. Journalists will soon treat him as the lamest of lame ducks, and suggest nothing consequential will happen in the last two years of his presidency. Instead, they’ll obsess over who will come next.
So the timing is perfect for Rolling Stone magazine to reassert itself as Obama’s most shameless house organ. They’ve published a 4,000-word tribute by liberal New York Times columnist Paul Krugman insisting that “Obama has emerged as one of the most consequential and, yes, successful presidents in American history.””
“Aiming to contain health care costs, a growing number of employers and insurers are adopting a strategy that limits how much they’ll pay for certain medical services such as knee replacements, lab tests and complex imaging. A recent study found that savings from such moves may be modest, however, and some experts question whether “reference pricing,” as it’s called, is good for consumers.
The California Public Employees’ Retirement System (CalPERS), which administers the health insurance benefits for 1.4 million state workers, retirees and their families, has one of the more established reference pricing systems. More than three years ago, the agency began using reference pricing for elective knee and hip replacements, two common procedures for which hospital prices varied widely without discernible differences in quality, says Ann Boynton, CalPERS’ deputy executive officer for Benefit Programs Policy and Planning.”
“Republican Senate Budget Committee analysts reported last week that the Patient Protection and Affordable Care Act (ACA) — a.k.a. ObamaCare — would increase the federal deficit by $131 billion over the period from 2015 to 2024. Drew Hammill, a senior aide to House Minority Leader Nancy Pelosi (D-Calif.), dismissed the report as “complete garbage.”
Name-calling is no substitute for analysis. The Senate budget analysts’ work is fully transparent. Based on Congressional Budget Office (CBO) data on medical spending and labor market effects, it is quite easy to check out.
In fact, the Senate Budget analysts do not question any of the CBO’s assumptions concerning ObamaCare’s biggest fiscal problem: massive government spending. The CBO now says that the Medicaid expansion and the new exchange subsidies will cost taxpayers $1.9 trillion by 2024. It will account for more than half the cost-growth in federal health programs by 2023.”
“Last fall, millions of Americans breathed a sigh of relief when Obamacare didn’t cancel their health care plans. Now they’re holding their breath once again.
Hundreds of thousands of Americans will soon receive cancellation letters affecting their 2015 health care plans — and that number may quickly rise into the millions. This wave of cancellations will fall into two categories. The first group hit will be in the individual market, the same group that suffered through at least 6.3 million cancellation letters last year. They will almost certainly be joined by millions of people in the small-employer market, which has 40 million plans and will be under Obamacare’s control starting next year.”
“Sticker shock awaits thousands of people with health coverage through PreferredOne, the top seller on the MNsure exchange during its first year.
The Golden Valley-based insurer said Wednesday that its individual market subscribers will see an average premium increase next year of 63 percent due to high claims costs.
“Given the volatility of the individual marketplace due to the first year of the [federal health law], this increase is a significant step at stabilizing our rates and plans for the years to come,” the company said in a statement.”
““If we hadn’t taken this on, and [health insurance] premiums had kept growing at the rate they did in the last decade, the average premium for family coverage today would be $1,800 higher than they are. Now, most people don’t notice it, but that’s $1,800 you don’t have to pay out of your pocket or see vanish from your paycheck. That’s like a $1,800 tax cut.”
–President Obama, remarks on the economy, Northwestern University, Oct. 2, 2014
Remember that 2008 campaign promise touted by then-candidate Obama — that his health care law would reduce the cost of premiums by $2,500 by 2014? As we have noted, he was quickly called out by fact checkers for making a dubious claim based on shaky assumptions.”
“Why do Democrats and Republicans view this law so differently? Ideology plays a big role. Democrats are generally more willing than Republicans to look to government to help address people’s problems.
Demographics shape the debate, too.
If a community has a large concentration of people without health insurance, there is a good chance it is represented by a Democrat in Congress. Of the 50 congressional districts with the most uninsured people, all but nine are represented by Democrats.”
“Remember this categorical assurance from President Obama?
“I will not sign a plan that adds one dime to our deficits.”
This was no casual, throw-away campaign promise. The pledge was made on September 9, 2009 in his health speech before a joint session of Congress. In reality, we have known for years that Obamacare would violate this promise. But champions of Obamacare have repeatedly pointed to the CBO score that purported to show that the law would reduce federal deficits by $143 billion in its first 10 years. They conveniently ignored the fact that less than four weeks before the law even passed, Paul Ryan had deftly exposed all the “gimmicks and smoke-and-mirrors” underlying that calculation.”
“Insurance consultants were shocked recently to learn that Obama administration rules allow large companies to offer 2015 worker health plans that don’t include hospital benefits. Now the administration is concerned too.
Treasury Department officials are preparing to reverse course on an official calculator that permits plans without hospital coverage to pass the health law’s strictest standard for large employers, said industry lawyers who have spoken to them. These sources expect the administration to disallow such coverage by the end of the year.”