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CBO Claims Cost Of O-Care Subsidies Will Be Lower

First we have this from an unquestioning Reuters:

CBO lowers U.S. deficit estimates as health subsidies fall

By David Lawder and David Morgan | April 15, 2014

WASHINGTON (Reuters) – Health insurance subsidies under the Affordable Care Act will cost slightly less than previously thought, helping to slow down the forecast growth of U.S. deficits over the next decade, the Congressional Budget Office said on Monday.

We thought the deficit didn’t matter. But, sure, convince us that giving 83% of 7.5 million people subsidies for their health insurance will lower the deficit.

And convince us that putting 4.5 million people on Medicaid will lower the deficit, too. We’re easy.

The non-partisan CBO [sic], in revisions to its annual budget estimates, said the reduced subsidy cost estimates partly reflect lower premiums now being charged in government-run "Obamacare" exchanges and accommodations that allow previously canceled health plans to be extended…

In other words, the CBO is claiming that fewer people are being kicked off their old plans than the CBO thought would be kicked off their plans. Because of Obama backing down and allowed these plans to be re-offered, if the states allow them. And not all of the states are allowing them.

(But do you know anyone who had their old plan cancelled, but then got it re-instated? We don’t. And we haven’t seen anyone who had that experience cited in the news media.)

The revisions gave the Obama administration a small piece of positive news on the embattled healthcare reforms…

Which is the only kind of news about Obama-Care we ever hear from our media guardians.

White House spokesman Jay Carney wasted no time in trying to capitalize on it. "This report demonstrates the Affordable Care Act is working," Carney told a news briefing. "It shows that marketplace healthcare costs have gone down because premium estimates have gone down." …

And never mind that premiums haven’t gone down.

The report also forecast less severe premium increases in benchmark health plans offered through the exchanges…

Which flies in the face of everything we are being told by the insurance companies, who are saying that premiums are going to double or even triple next year.

In an accompanying report, CBO and the Joint Committee on Taxation left unchanged their estimate that 6 million people on average will be covered by private health insurance purchased through Obamacare’s marketplaces over the course of this year…

So, on top of everything else, the CBO is not even counting the full 7.5 million enrollees that the administration is now claiming. And they are not even counting the 7 million sign-ups they predicted.

So it’s no wonder their projection of the cost of subsidies is down, when they are saying their are almost a million fewer people getting subsidies than they had originally predicted. (83% of 1 million people.)

From the Washington Examiner:

Jay Carney: No timetable for releasing information about Obamacare sign-ups

By Susan Crabtree | APRIL 14, 2014

White House spokesman Jay Carney said he doesn’t know when the administration plans to release more information about the 7.5 million Americans who signed up for Obamacare on the federal exchanges by the March 31 deadline.

The Department of Health and Human Services and the Centers for Medicare and Medicaid Services “are working to crunch the numbers and assess the data and collect it in a way that provides as much information as possible,” he said Monday during his daily briefing with reporters.

“I don’t have a timetable for when that would happen,” he added… “I have no doubt that what we provide – there will be assertions that we haven’t provided enough,” he said.

What a little snot he is.

This article was posted by Steve Gilbert on Tuesday, April 15th, 2014. Comments are currently closed.

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