“So why is it that the group that purports to speak for seniors, the American Association of Retired Persons, so strongly supports a law that most seniors oppose? According to an explosive new report from Sen. Jim DeMint (R., S.C.), it’s because those very same Medicare cuts will give the AARP a windfall of $1 billion in insurance profits, and preserve another $1.8 billion that AARP already generates from its business interests.”
“The rule in question concerns the Patient Protection and Affordable Care Act’s tax credits, not the law’s tax increases. The tax credits are intended to offset the cost of insurance premiums for low- and middle-income workers. For many Americans, however, those tax credits are like an anchor disguised as a life vest. The mere fact that a taxpayer is eligible for a tax credit can trigger tax liabilities against both the taxpayer (under the act’s ‘individual mandate’) and her employer (under the ’employer mandate’).”
“Democrats claim that they haven’t raided Medicare, because the ACA doesn’t cut benefits. This is technically true but misses the larger point. If cuts to providers fall below the cost of actually providing those services to Medicare patients, providers will limit or stop offering those services to patients. Put another way, seniors will be offered fewer benefits.”
“Medical prices accelerated faster than some projections last year and the number of uninsured is rising, according to data that show the U.S. goal of expanding health care is veering onto a more difficult road.”
“The concerns are also damning in the context of the the normal tug of war between the states and Washington DC. That’s because in his testimony, Mr. Consedine states he wrote to HHS weeks ago and has not received a reply. While its’ not unusual for the Feds to stiff politically inconvenient inquiries, I am fearful that the reason why HHS seems unwilling to provide a timely reply is because it doesn’t know the answers.”
“Two new independent studies of health insurance premiums and health care spending indicate both are rising at an accelerated pace, despite President Obama’s 2008 promise to contain those costs and his pledge that his health care legislation would reduce premiums.”
“The Health Insurance Tax (HIT) on fully-insured premium markets imposed by Obamacare could raise $87 billion over the next ten years and also cost between 125,000 and 249,000 jobs by 2021, according to a study.”
“Even as the new health care law adds millions of insured customers to the paying pool, medical device manufacturers say a tax on their product could cost them billions… But the manufacturers say the tax will force money away from research, send jobs overseas and stop them from expanding in the U.S.”
“PPACA is poised to radically expand Medicaid coverage beginning in 2014—adding to an already crushing state burden of Medicaid costs. The “perfect storm” of Medicaid overspending, excessive regulation, and PPACA expansion is leading to serious discussions among governors and state Medicaid directors about block-granting federal Medicaid funding in return for significant state flexibility in Medicaid program design and administration.”
“Nearly 13 million Americans have gotten, or will soon be getting, rebates from their health insurance companies. This is because of a provision in the Affordable Care Act (aka Obamacare) that’s supposed to force insurance companies to run better. But while the idea of getting a check from your health insurance company may sound great, some economists worry this rule could actually make health insurance more expensive.”