Obamacare Exchanges Will Cost Double
Since it was never about costs and all about control this shouldn’t be surprising.
Check it out:
Obamacare critics warned that President Barack Obama’s rosy $2 billion cost estimate for the government’s so-called “insurance exchanges” would likely rise. On Wednesday, they more than doubled.
Health and Human Services Department (HHS) budget documents state that the federal government now expects to spend $4.4 billion this year on state grants to erect the government exchanges for the less than half of the U.S. states who are participating. In 2014, HHS says the cost will jump to $5.7 billion.
In addition to the cost spike, the number of uninsured Americans who will now be covered under Obamacare has fallen once again:
The result is that the number of Americans projected to gain insurance from the law has already eroded, by at least 5 million people, to 27 million by 2017, the CBO said in February. In addition, as many as 8 million people will lose health-care plans now offered through their employers, almost three times more than the CBO initially projected.