Latasha Smith ECO3028 Week9
Microeconomics
Latasha Smith
Everest University
I found an article titled “Obamacare will cost less than thought”. According to the article updated projections from the Congressional Budget Office (CBO) national healthcare will cost $506 billion for the next five fiscal years. Down 29% from the last projected amount 5 years ago. The article states that this decline is due to The Supreme Court's ruling that allowed states to decide whether to expand Medicaid, the slow growth of health care spending, and Obamacare enrollment have ramped up slower than anticipated (Luhby, 2015).
Originally CBO experts expected 9 million people to lose job based insurance coverage by the year 2025, today experts expect 7 million due to fewer people having job based coverage than experts originally thought. The article states that projections show 22 million people will enroll in the Obamacare individual exchanges and 25 million will remain uninsured by 2025. This result in the federal government spending 20% less on subsidizing low and moderate income Americans on the exchanges. And it will collect 6.4% less in penalties from the uninsured. The article goes on to discuss healthcare spending how it won’t stay muted much longer and how it’s expected to rise between 2016 and 2025. Overall Obamacare will cost the federal government 11% less than CBO experts projected in January.
I think this article relates with this week’s reading and class discussion. We discussed whether we thought this plan would work or not. I personally think the plan works for the people because they are receiving healthcare that that wouldn’t necessary be able to afford. It doesn’t work for the federal government because it is costly. I think somehow someway this has to work for the people. I have heard so many stories via the internet about how Obamacare has worked for them. People are able to having lifesaving surgeries and treatments that without Obamacare they may not be able to share their stories.
Latasha Smith
Everest University
I found an article titled “Obamacare will cost less than thought”. According to the article updated projections from the Congressional Budget Office (CBO) national healthcare will cost $506 billion for the next five fiscal years. Down 29% from the last projected amount 5 years ago. The article states that this decline is due to The Supreme Court's ruling that allowed states to decide whether to expand Medicaid, the slow growth of health care spending, and Obamacare enrollment have ramped up slower than anticipated (Luhby, 2015).
Originally CBO experts expected 9 million people to lose job based insurance coverage by the year 2025, today experts expect 7 million due to fewer people having job based coverage than experts originally thought. The article states that projections show 22 million people will enroll in the Obamacare individual exchanges and 25 million will remain uninsured by 2025. This result in the federal government spending 20% less on subsidizing low and moderate income Americans on the exchanges. And it will collect 6.4% less in penalties from the uninsured. The article goes on to discuss healthcare spending how it won’t stay muted much longer and how it’s expected to rise between 2016 and 2025. Overall Obamacare will cost the federal government 11% less than CBO experts projected in January.
I think this article relates with this week’s reading and class discussion. We discussed whether we thought this plan would work or not. I personally think the plan works for the people because they are receiving healthcare that that wouldn’t necessary be able to afford. It doesn’t work for the federal government because it is costly. I think somehow someway this has to work for the people. I have heard so many stories via the internet about how Obamacare has worked for them. People are able to having lifesaving surgeries and treatments that without Obamacare they may not be able to share their stories.