New Report Shows Medicaid Costs Increase, Fewer People Receiving Employer Health Insurance
Tuesday, March 13, 2012Joe Brenckle 202-224-2465
WASHINGTON, D.C. – Senator Mike Enzi (R-Wyo.), Ranking Member on the Senate Health, Education, Labor and Pensions Committee, said a new estimate today from Congressional Budget Office (CBO) shows that the new health care law will dramatically increase Medicaid spending and result in up to 4 million fewer people receiving health insurance through an employer.
“This new estimate shows that the new law is rapidly increasing Medicaid spending, because it is forcing many more Americans into this mismanaged, government run health program,” said Senator Enzi. “The CBO analysis is one more example of the President breaking his promise that Americans can keep their insurance if they like it. According to CBO, under this new law, 4 million fewer people will have access to employer health insurance.”
Enzi also noted that the new estimate of the gross cost of the new entitlement program is $1.7 trillion and that by 2022, the average subsidy paid in the new insurance exchanges will increase by 52 percent and that an additional 4 million people will lose their employer-based insurance. The CBO estimates the average exchange subsidy will increase 52 percent by 2022 – starting at $4,780 in 2014, and escalating to $7,270 in 2022. For the first time in estimating the new health care law, CBO contends the costs of forcing more Americans on government programs like Medicaid and CHIP ($931 billion) will cost more than the new exchange entitlement program ($808 billion).
The report can be found here.
# # #
- Alexander Statement on GAO Report Detailing Administration’s Obamacare Website Failures [Ranking Member]
- Following Harkin Report Uncovering Labor Law Violations by Federal Contractors, White House Announces Executive Order to Strengthen Protections and Improve Workplace Conditions [Chairman]
- Two Years After Harkin Report Revealed Questionable Business Practices in For-Profit College Industry, New Analysis Shows For-Profit Colleges Are Top Recipients of Post 9/11 G.I. Bill Dollars [Chairman]
- Alexander on NLRB General Counsel Ruling McDonald’s Shares Responsibility for Franchisees’ Employees [Ranking Member]
- On 24th ADA Anniversary, Harkin Reflects on Progress, Work Ahead to Ensure All Americans with Disabilities Have the Opportunity to Succeed [Chairman]
- Alexander: States are Leading in Higher Education Innovation, Washington Getting in the Way [Ranking Member]