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CBO: Obamacare Costing The Feds A Third Less Than Expected
Source: TPM
The Congressional Budget Office said Friday that its projections for the federal government's spending on the Affordable Care Act's coverage provisions in 2019 are now a third lower than what they were when the law was passed in 2010.
CBO Director Keith Hall said in written responses to questions posed by the House Budget Committee that the CBO expects the federal government to spend $148 billion in 2019 on the law's coverage provisions, down from the $214 billion estimated when the law was passed.
Hall cited a number of reasons for why the law is costing the federal government less than originally expected. One is that less people are using the individual market than anticipated, lowering the feds' spending on things like the subsidies for insurance premiums. Additionally, Medicare and Medicaid's costs are coming in under expectations, as are the costs of private insurance -- a slowdown in health care costs Hall speculated could have been driven by the recession.
"Although it is unclear how much of that slowdown is attributable to the recession and its aftermath and how much is attributable to other factors, the slower growth has been sufficiently broad and persistent to persuade the
agencies to significantly lower their projections of federal costs for health care," Hall said.
CBO Director Keith Hall said in written responses to questions posed by the House Budget Committee that the CBO expects the federal government to spend $148 billion in 2019 on the law's coverage provisions, down from the $214 billion estimated when the law was passed.
Hall cited a number of reasons for why the law is costing the federal government less than originally expected. One is that less people are using the individual market than anticipated, lowering the feds' spending on things like the subsidies for insurance premiums. Additionally, Medicare and Medicaid's costs are coming in under expectations, as are the costs of private insurance -- a slowdown in health care costs Hall speculated could have been driven by the recession.
"Although it is unclear how much of that slowdown is attributable to the recession and its aftermath and how much is attributable to other factors, the slower growth has been sufficiently broad and persistent to persuade the
agencies to significantly lower their projections of federal costs for health care," Hall said.
Read more: http://talkingpointsmemo.com/dc/cbo-third-obamacare-costs?utm_content=buffer8bfe3&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
7 replies
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Said the red state voter with black lung disease. 
They were clearly WRONG on forecasting what this law was supposed to do with specified funding. Gov't spending ALWAYS overruns, so why is this particular program so completely off track??? How can we trust Obamacare when the facts to date show it to be utterly WRONG!
