Obamacare Will Increase Health Spending By $7,450 For A Typical Family of Four

[trfjr]

It was one of candidate Obama’s most vivid and concrete campaign promises. Forget about high minded (some might say high sounding) but gauzy promises of hope and change. This candidate solemnly pledged on June 5, 2008: “In an Obama administration, we’ll lower premiums by up to $2,500 for a typical family per year….. We’ll do it by the end of my first term as President of the United States.” Unfortunately, the experts working for Medicare’s actuary have (yet again[1]) reported that in its first 10 years, Obamacare will boost health spending by “roughly $621 billion” above the amounts Americans would have spent without this misguided law.

Obamacare Will Increase Health Spending By $7,450 For A Typical Family of Four - Forbes


the Unaffordable Care Act

do you know any family of four in this economy that can afford to lose over 7,450 dollars a year?
that is $650 a month
that is $156 a week
that is what is normally spent a week on food for a family of four.
families will have to decide either to have health insurance or food.

 

[a351]

Should probably invest a bit of time in actually reading your own articles. The piece merely cites the cumulative increase in health spending over the next decade, and lazily breaks the numbers down as if they apply to premiums strictly, rather than increases dispersed among numerous areas, namely medicare. A poorly written article and even worse analysis from the OP.

 

[greengirl77]

Obamacare Will Increase Health Spending By $7,450 For A Typical Family of Four - Forbes


the Unaffordable Care Act

do you know any family of four in this economy that can afford to lose over 7,450 dollars a year?
that is $650 a month
that is $156 a week
that is what is normally spent a week on food for a family of four.
families will have to decide either to have health insurance or food.

Kinda thinking instead of calling themselves Republicans, Maybe they should call themselves dumbasses, the rest of America knows this it time they realize this.

 

[Redress]

Obamacare Will Increase Health Spending By $7,450 For A Typical Family of Four - Forbes


the Unaffordable Care Act

do you know any family of four in this economy that can afford to lose over 7,450 dollars a year?
that is $650 a month
that is $156 a week
that is what is normally spent a week on food for a family of four.
families will have to decide either to have health insurance or food.

Your editorial is lying to you. First, it includes both public and private spending so that "average family of 4" does not see a 7450 dollar increase over 10 years. More importantly, the actual source document used by the editorial shows a somewhat different picture. Here it is: http://www.cms.gov/Research-Statist...tionalHealthExpendData/Downloads/Proj2012.pdf . To quote from it:

Health spending is projected to grow at an average rate of 5.8 percent from 2012-2022, 1.0 percentage point faster than expected average annual growth in the Gross Domestic Product (GDP)

Got that? 5.8 % increase in growth. Now the same group can let us look at historical numbers, and here is that document: http://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/Downloads/tables.pdf

What that tells us is that from 1970 to 2007, health care costs rose at higher than that rate of 5.8. In fact in 1980 it rose 13.1 %...What your source is trying to tell you is that something that increases in cost every year, all of a sudden that entire increase is because of ACA. Obvious lie. The source for your source list a fairly large number of reasons for the increase in cost. Never trust editorials. I know, I know, it told you what you wanted to hear, but in this case it made you look silly.

 

[obvious Child]

Well, that thread certainly didn't to the way the OP thought it would.

Notice, there's an inverse relationship between the level of your bias and how much of an article you read before you post it.

The more biased you are, the less you read.

 

[Rocketman]

Obamacare Will Increase Health Spending By $7,450 For A Typical Family of Four - Forbes


the Unaffordable Care Act

do you know any family of four in this economy that can afford to lose over 7,450 dollars a year?
that is $650 a month
that is $156 a week
that is what is normally spent a week on food for a family of four.
families will have to decide either to have health insurance or food.

my premiums increased 30% after the 26 year old bull****, they have since gone up again

 

[Kobie]

Obamacare Will Increase Health Spending By $7,450 For A Typical Family of Four - Forbes


the Unaffordable Care Act

do you know any family of four in this economy that can afford to lose over 7,450 dollars a year?
that is $650 a month
that is $156 a week
that is what is normally spent a week on food for a family of four.
families will have to decide either to have health insurance or food.

That article is a big ol' wad of dishonest hackery.

So I have taken the latest year-by-year projections [of additional health spending attributable to the Affordable Care Act], divided by the projected U.S. population to determine the added amount per person and multiplied the result by 4.

Really? That's the kind of "math" this idiot used to determine this?

The $7,450 is not coming out of the pockets of myself, my imaginary wife and the two fictional children in my typical-yet-hypothetical family of four. Most of the $621B in increased health spending will be paid by insurance companies, who will now have more customers thanks to the individual mandate.

 

[aberrant85]

Obamacare Will Increase Health Spending By $7,450 For A Typical Family of Four - Forbes


the Unaffordable Care Act

do you know any family of four in this economy that can afford to lose over 7,450 dollars a year?
that is $650 a month
that is $156 a week
that is what is normally spent a week on food for a family of four.
families will have to decide either to have health insurance or food.

Am I missing something, or is the rise in spending on healthcare have something to do with 30 million more people will be paying for healthcare?

 

[tererun]

Obamacare Will Increase Health Spending By $7,450 For A Typical Family of Four - Forbes


the Unaffordable Care Act

do you know any family of four in this economy that can afford to lose over 7,450 dollars a year?
that is $650 a month
that is $156 a week
that is what is normally spent a week on food for a family of four.
families will have to decide either to have health insurance or food.

i guess this has been torn up pretty well. Don't you get to a point where you just sit back and wait for the sky to hit the people who you think are so clueless? yes, I guess it is the last push to get rid of obamacare before it gets entrenched in the system and it becomes harder to remove it later. Do you still think there are people who have not gotten to their final position on this even if that position is waiting to see what happens? Everything that has come out up until now has been mostly predictions and perhaps some preliminary guesses. Now it gets implemented and how are you going to keep up this line if it turns out all these predictions are wrong? A lot of these people are the same ones who knew mittens would be our next president.

I am just saying take a break and if prices rise then you have a battle cry for the next election. If next year we are all paying 650 dollars extra a month for really crappy health insurance the reps will have the senate and the fallout will mean the presidency most likely. instead of making the same old stupid argument about this guys prediction or that guys prediction it is now time to look to what happens. Worse comes to worse for you and you pay the fine for a year or two and come out ahead and are able to say you told everyone. Or is it that even you do not have faith in the claims you make and you are worried that in a year or so this program will be so good that the dems are going to have a great plan they can promote? If that is what you are worried about calm down. I doubt it will be a overall great plan. obama has this tendency to make things a little better but never live up to the great success he wants. Also, there are still republicans on medicare and social security who think that the system keeping them alive is the worst thing that ever happened to them so the extreme right is not going to switch sides. They have a resistance to the truth that will make them reject reality even if it is good for them. So you are all good.

 

[Greenbeard]

So the CMS actuaries have come out with their latest national health spending projections.

What were they projecting back in 2008, when Obama was on the campaign trail, based on the trends back then? Back then the CMS actuaries predicted that total national health expenditures in 2018 would be $4,563.7 billion.

Now look at the predictions issued this year that you're citing: national health expenditures in 2018 are now expected to be $3,889.1 billion.

In other words, since Obama's election and the subsequent implementation of health reform, total health spending in a future reference year has shrunk by $674.6 billion. Assuming a population of around 315 million people, that's a savings of just over $2,140 per head.

More importantly, however, the growth rate of health expenditures in 2018 is now expected to be 5.9%, down from the 6.7% growth rates expected pre-reform in 2008. Meaning the savings per year relative to trend will continue to stack up. Not quite the awful news you make it out to be.

 

[obvious Child]

Am I missing something, or is the rise in spending on healthcare have something to do with 30 million more people will be paying for healthcare?

It appears the CMS.Gov study doesn't discuss the alternatives.

What's the cost of having these 30 more million people uninsured to taxpayers and premium payers?

I've consistently noticed that the detractors to Healthcare Reform basically never address the status quo or the fact that the status quo encourages people to effectively steal the premium paid by others. Premiums paid by others are being used to cover the costs of the uninsured. What's the projected cost of that by 2022? Obamacare may suck, but the alternative is bad as well. You can't reasonably state that Obamacare will or will not save anyone money without first looking at the alternative, to which the author just didn't bother to do.

$621 billion over 10 years is $62.1 billion. If the economy grows at 2%, that's manageable.

 

[aberrant85]

It appears the CMS.Gov study doesn't discuss the alternatives.

What's the cost of having these 30 more million people uninsured to taxpayers and premium payers?

I've consistently noticed that the detractors to Healthcare Reform basically never address the status quo or the fact that the status quo encourages people to effectively steal the premium paid by others. Premiums paid by others are being used to cover the costs of the uninsured. What's the projected cost of that by 2022? Obamacare may suck, but the alternative is bad as well. You can't reasonably state that Obamacare will or will not save anyone money without first looking at the alternative, to which the author just didn't bother to do.

$621 billion over 10 years is $62.1 billion. If the economy grows at 2%, that's manageable.

Yes to all of that. My point was that the author of the article seems ignorant of basic logic and mathematics. He seems to have taken the prediction of $621 billion in the amount of health care spending as meaning that existing customers will be paying that cost. He is completely forgetting to account for the 30 million or so new insurance customers in his calculations. Those people alone will account for a huge chunk of the extra spending because those are people who will be buying insurance for the first time. The rest of the rise in spending is probably consistent with the normal rise of health care and inflation.

It's just funny to me that none of the usual anti-Obamacare fanatics have bothered to defend this OP.

 

[obvious Child]

Yes to all of that. My point was that the author of the article seems ignorant of basic logic and mathematics.

Almost every article against Obamacare is. You never see them compare it to the status quo. It amazes me how the President hasn't hit back saying it's WRONG for the uninsured to essentially steal premiums from responsible people, as that is exactly what his detractors are arguing for. If I pay my insurance, why should someone who chooses not to pay for their own insurance, get hurts and is thereby allowed to steal my insurance money and thereby raise my cost be allowed to so? The notion of self responsibility has basically been chucked out the window by the Republicans purely because the plan is Obama backed. If the GOP actually believed a single word of its claims about self responsibility, they'd be all for the mandate as it reduces the amount of insurance premium theft and pushes people towards taking responsibility for their own insurance. Instead the GOP is implicitly encouraging freeloading and theft. The Obama Derangement has in some ways become way worse than the years of Bush Derangement. The GOP is abandoning its own platform of self responsibility because a Democrat is pushing a plan that nudges people towards it.

He seems to have taken the prediction of $621 billion in the amount of health care spending as meaning that existing customers will be paying that cost.

Some of that will be borne by existing customers as those on assistance won't pay much or anything for their healthcare. But the majority of it likely won't be paid by existing payers. Furthermore, if preventive care proposals do manage to reduce chronic disease growth, that will save us billions upon billions in costs. There is really no reason why anyone should get diabetes if they exercise and watch what they eat. Even if you're genetically disposed to it. Doesn't mean you will get it, but you will get if you don't take action to stop it and preventive care should help with that. Imagine 75% less diabetes related healthcare costs. That's literally fists full of ten thousand dollar bills.

He is completely forgetting to account for the 30 million or so new insurance customers in his calculations

Or he deliberately left it out. Forbes is hit and miss when it comes to stuff like this.

Those people alone will account for a huge chunk of the extra spending because those are people who will be buying insurance for the first time. The rest of the rise in spending is probably consistent with the normal rise of health care and inflation.

It's just funny to me that none of the usual anti-Obamacare fanatics have bothered to defend this OP.

Probably because they haven't seen it. Or because we're actually discussing the math behind it. Also, if a bait thread like this gets nipped early, they tend to die off fast.

 

[Henrin]

Almost every article against Obamacare is. You never see them compare it to the status quo. It amazes me how the President hasn't hit back saying it's WRONG for the uninsured to essentially steal premiums from responsible people, as that is exactly what his detractors are arguing for. If I pay my insurance, why should someone who chooses not to pay for their own insurance, get hurts and is thereby allowed to steal my insurance money and thereby raise my cost be allowed to so?

Steal- To take (the property of another) without right or permission.

Yeah man, they are stealing your property. Sure. Learn to use words correctly. They didn't steal anything from you. Furthermore, you talking about government policy. Going back to the government and not getting them to remove the idiotic policy is ****ing stupid. Instead we just force everyone into the commerce to cover the stupid up. The best part is you're crying about people stealing from you so you solve this problem by stealing from them. WTF? Yeah, that is practicing the golden rule alright. If by practicing the golden rule you mean doing the exact opposite.

The notion of self responsibility has basically been chucked out the window by the Republicans purely because the plan is Obama backed. If the GOP actually believed a single word of its claims about self responsibility, they'd be all for the mandate as it reduces the amount of insurance premium theft and pushes people towards taking responsibility for their own insurance. Instead the GOP is implicitly encouraging freeloading and theft. The Obama Derangement has in some ways become way worse than the years of Bush Derangement. The GOP is abandoning its own platform of self responsibility because a Democrat is pushing a plan that nudges people towards it.

You don't force people to be responsible in their lives. They have the right to be irresponsible assholes if that is what they want to do.

 

[274ina]

Obamacare Will Increase Health Spending By $7,450 For A Typical Family of Four - Forbes


the Unaffordable Care Act

do you know any family of four in this economy that can afford to lose over 7,450 dollars a year?
that is $650 a month
that is $156 a week
that is what is normally spent a week on food for a family of four.
families will have to decide either to have health insurance or food.

Ahhh more lies of the rich that about to pay a 3.2% tax on the $400 million they make per year...........

here is the truth.

Much cheaper than CEO care any day.

Subsidy Calculator | The Henry J. Kaiser Family Foundation

How about you show us all this "family of four" and show the results from the TRUTH above.