CBO Projects Lower Obamacare Costs
Posted at 8:34 a.m. on March 6, 2014
The latest Obamacare analysis by the Congressional Budget Office estimates that the health care law’s coverage provisions will cost roughly $1.5 trillion over the next decade, $9 billion less than expected.
National Journal: The CBO report “doesn’t cover the whole law, and CBO reiterated that it expects the law to reduce the federal deficit. Tuesday’s analysis … didn’t include Medicare savings or new taxes on drug and medical-device companies, which offset the costs of expanding coverage.”
The revised projection is due in part to lower than projected enrollment: “roughly 1 million fewer people will obtain health insurance on the exchanges and 1 million fewer people will sign up for Medicaid and the Children’s Health Insurance Plan.”
And “that insurance companies priced exchange premiums lower than the agency had anticipated.”