The True Cost of Health Insurance "Reform"

I’ve heard some folks say that they’d happily pay their part to get health insurance for everyone.  The only problem is, they think that it’s just a matter of money; a few (or a whole bunch of) extra bucks out of their paychecks.  But there’s more to it than that.  Republicans have come out with some numbers that show this is a bit more costly than that.  A sampling:

5.5 million — Number of jobs that could be lost as a result of taxes on businesses that cannot afford to provide health insurance coverage, according to a model developed by Council of Economic Advisors Chair Christina Romer

$1.055 trillion — New federal spending on expanded health insurance coverage over the next ten years, according to a Congressional Budget Office preliminary score of the bill

0.7% — Percentage of all that new spending occurring in the bill’s first three years-representing a debt and tax “time bomb” in the program’s later years set to explode on future generations

$88,200 — Definition of “low-income” family of four for purposes of health insurance subsidies

114 million — Number of individuals who could lose their current coverage under the bill’s government-run health plan, according to non-partisan actuaries at the Lewin Group

And what about paying for all of this with Medicare fraud reduction?

$60 billion — Loss sustained by taxpayers every year due to Medicare fraud, according to a recent 60 Minutes expose; the government-run health plan does not reform the ineffective anti-fraud statutes and procedures that have kept Medicare on the Government Accountability Office’s list of high-risk programs for two decades

Zero — Prohibitions on government programs like Medicare and Medicaid from using cost-effectiveness research to impose delays to or denials for access to life-saving treatments.

That silly talk about "death panels"?

$634 Billion — Amount that could be saved by denying individuals access to treatments that are not “cost-effective,” according to a report by the liberal Commonwealth Fund; Section 1160 of the bill gives bureaucrats in the Obama Administration virtual free rein to develop a new “high-value” reimbursement system for Medicare by May 2012

Your money would be buying more government intrusion, less freedom, subsidies for those "poor" making $80,000 a year, expansion of unemployment, and a price tag that, while it may feel good at the beginning, will hit up-and-coming wage earners the hardest. 

Happily pay for this?  Really?

Filed under: Economics • Government • Medicine

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