The Individual Mandate Isn't The Only Problem with ObamaCareSubmitted by emalvini on Wed, 04/25/2012 - 22:14
The Individual Mandate Isn't The Only Problem with ObamaCare
A ruling on the constitutionality of key elements of Obamacare is expected from the U.S. Supreme Court by late June. The justices, and the public, are primarily focused on the constitutionality of the individual mandate, which would require Americans to purchase health insurance. Unfortunately, the individual mandate isn’t the only problem with Obamacare, a law that, once it fully takes effect, will fundamentally transform — for the worse — how health care is provided in this country.
One problem with Obamacare is the strain it will put on families’ budgets. The law was supposed to ensure quality health care for all Americans at an affordable cost. Instead, insurance premiums are expected to increase under Obamacare. The Congressional Budget Office (CBO) estimates that, if the law isn’t repealed, premiums on the individual market will rise by 10 to 13 percent between now and 2016. Moreover, the mandate, which is effectively a tax, would hit lower-income families the hardest.
Obamacare will also be a disaster for taxpayers. The law is expected to add between 16 million and 25 million Americans to Medicaid, a system that’s already overburdened and has its share of financial problems. The Medicaid expansion will ultimately cause problems for state budgets, since states are responsible for covering a large portion of Medicaid’s costs. States are already cash-strapped, largely because of existing entitlement programs.
Obamacare could also damage the economy. According to a 2011 CBO report, there will be 800,000 fewer jobs in 2020 if Obamacare takes effect than there would be if it doesn’t take effect.
And yet, even with Obamacare, an estimated 23 million Americans will still not have access to health insurance in 2019.