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CBO Report: Up To 20M May Lose Coverage

From The Hill:

CBO report says healthcare law could cause as many as 20M to lose coverage

By Julian Pecquet – 03/15/12

As many as 20 million Americans could lose their employer-provided coverage because of President Obama’s healthcare reform law, the nonpartisan Congressional Budget Office said in a new report Thursday.

The figure represents the worst-case scenario, CBO says, and the law could just as well increase the number of people with employer-based coverage by 3 million in 2019.

Just like with every other government program, the worst case estimate is always the most likely outcome under Obama-Care.

But, come on, what does this say about the CBO’s ‘estimates’ that they give them so much ‘leeway’?

The best estimate, subject to a "tremendous amount of uncertainty," is that about 3 million to 5 million fewer people will obtain coverage through their employer each year from 2019 through 2022.

So by their "best estimate" only 5 million people will lose their employer coverage.

By the way, we wonder how many people have already lost their employer coverage so far, when Obama-Care still hasn’t fully kicked in? It is probably quite a few, despite all the temporary waivers that have been given.

The new report adds more detail to this week’s update of the law’s coverage provisions, which CBO released Tuesday. Compared to a year ago, the law is now anticipated to cover 2 million fewer people but cost $50 billion less over 10 years, after factoring penalties paid by individuals and businesses that don’t get or provide healthcare coverage.

In other words, the CBO now says Obama-Care will cover 2 million fewer people.

Note too that the CBO somehow claims that with the insurance mandate penalty taking hold, Obama-Care will cost $50 billion less over ten years. But paying this tax does not mean that it costs less. It still costs the same.

Republicans immediately pounced after the new numbers came out because they appear to violate Obama’s pledge that people who like their health plans will be able to keep them. Last year, CBO’s best estimate was that only 1 million people would lose employer-sponsored coverage

Of course we knew they were lying. In fact, they are probably still lying.

"President Obama’s string of empty promises is quickly becoming a disappointing trail of broken promises," House Budget Committee Chairman Paul Ryan (R-Wis.) said in a statement. "He promised Americans that his overhaul of the health care sector would not jeopardize the health coverage of those who liked what they had. As nonpartisan analysts made clear today, millions of Americans will soon learn the hard way that Washington’s overreach into their health care decisions will result in sharp disruptions to their coverage and their care."

Of course, the media called Paul Ryan an alarmist (and worse) when he said these same things two years ago.

Under CBO’s best estimate, 11 million mostly low-wage workers would lose their employer coverage. About 3 million would choose to drop their coverage to go into the new subsidized health exchanges or on Medicaid, while another 9 million would gain employer-sponsored coverage, for a net total of 5 million people losing employer coverage in 2019

Which was always the plan. Obama wants to make as many people as possible dependent on government for as much as possible.

This article was posted by Steve on Friday, March 16th, 2012. Comments are currently closed.

3 Responses to “CBO Report: Up To 20M May Lose Coverage”

  1. tranquil.night says:

    The “non-partisan” CBO is the gold-standard in Washington for projections. Except now, of course. Few on Team Certifiably Insane even know about this new report, and they aren’t going to hear about it. Nor would it probably matter if they did. When you’ve got bad news you can’t spin, just ignore it and call Republicans names for even bringing it up, that works.

  2. BannedbytheTaliban says:

    “So by their “best estimate” only 5 million people will lose their employer coverage.”

    The devil is in the details. The article says 3-5 million people EACH YEAR from 2019-2022. That is a total of 9-15 million people who will lose their coverage. Who knows how many people before 2019 and after 2022, quite possibly everybody. Especially if ObamaCare achieves its intended goal of bankrupting health insurance companies.

  3. Right of the People says:

    I’ve lived near Canada for a number of years now and go there quite frequently because it’s actually much closer to go shop there then driving to the closest store in Vermont and I’ve seen first hand how fugged up their health care system is. And the UK where my daughter lives is even worse. Of course they’ve had government run health care in the UK a lot longer and Canada will catch up one day.

    If we don’t get this law repealed we will become a third world country by 2025. I wonder how hard Chinese is to learn?

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