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You are here: Home / Anderson On Health Insurance / Good news everybody: ACA cost edition

Good news everybody: ACA cost edition

by David Anderson|  March 25, 201612:59 pm| 9 Comments

This post is in: Anderson On Health Insurance, Election 2008, Election 2012, Election 2016, Yes We Did

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CBO: #ACA subsidies increase 11%, overall costs are 25% less than first projected https://t.co/zqCL17yHa5

— MB (@baxterdc) March 25, 2016

So under budget and on projection for the target uninsured rate even with Chief Justice Roberts enabling sociopaths and assholes to stop Medicaid Expansion in 20 states.

Not bad at all….

UPDATE 1: The next time there is a massive social program passing Congress with uncertain costs, we need to put in mechanisms to take advantage of success instead of safeguards against massive cost overruns. The ACA has triggers where if the total federal cost of the advanced premium tax credit and the cost sharing reduction subsidies were more than .504% of GDP, future year individual shares would increase and the thresholds for federal subsidies would decline.
There were no mechanisms in place to say if subsidies were significant below budget that either subsidies for currently qualified individuals would get richer so their out of pocket premium expense would decline OR more people would become eligible for subsidies.

This is just a note to self to find again in 20 years.

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Reader Interactions

9Comments

  1. 1.

    Tom Levenson

    March 25, 2016 at 1:06 pm

    Quick question: What would the overall uninsured rate be if Medicaid expansion were nationwide?

  2. 2.

    MomSense

    March 25, 2016 at 1:07 pm

    Hooray!

    We need some talking points we can use to call our elected sociopaths and assholes about medicaid expansion.

    We could also use these talking points to write letters to our local papers.

  3. 3.

    WereBear

    March 25, 2016 at 2:00 pm

    Which also suggests the sheer staggering greedy-pockets waste of the previous system.

  4. 4.

    jl

    March 25, 2016 at 2:02 pm

    Thanks for the report of good news.

    Edit: Might be interesting to get Mayhew’s take on SCOTUS oral arguments earlier this week, where reactionary GOP hack justices revealed that they have no clue how health insurance, or medical care, works. But, might be like shooting fish in a barrel.

  5. 5.

    the Conster, la Citoyenne

    March 25, 2016 at 2:31 pm

    @MomSense:

    You know what would really impress the hell out of me? If Sanders made Medicaid expansion part of his health care rant, and address the fact that the reason it hasn’t been expanded in red states is because “those people” would benefit. I wonder if it’s ever even something that’s occurred to him.

  6. 6.

    Richard Mayhew

    March 25, 2016 at 3:27 pm

    @Tom Levenson: whatever survey you are using minus 1% or so… Realistically 8.0 to 10% depending on exactly what question is asked

  7. 7.

    MomSense

    March 25, 2016 at 3:39 pm

    @the Conster, la Citoyenne:

    Yes! I have been saying this since he launched his ridiculous single payer plan. If he and his revolution really want to help the working people, the poor people who need it most they would be agitating in every non-expansion state for medicaid coverage.

    It really doesn’t make any sense unless the real goal is to destroy/exact vengeance on the insurance industry.

    This is making me crazy! We are working so hard to get some kind of Medicaid expansion here in Maine and I haven’t seen boo from the Sanders campaign and his supporters. He won our caucus handily, I might add.

  8. 8.

    Richard Mayhew

    March 25, 2016 at 3:43 pm

    @jl: I have nothing interesting to say on this besides go read Kevin Drum:

    http://www.motherjones.com/kevin-drum/2016/03/supreme-court-conservatives-hate-obamacare-have-no-idea-how-it-actually-works

    He hits the high points and we owe Susan Sto Helit’s grandpa a beer

  9. 9.

    iLarynx

    March 25, 2016 at 4:40 pm

    Wow. Talk about burying the lede at The Hill. That article by Sarah Ferris is titled “CBO: Cost of ObamaCare subsidies climbs by 11 percent” reads like an indictment, spending 12 paragraphs and over 400 words about the various reasons the increase has occurred before getting to the final paragraph with these two sentences:

    The total cost of the healthcare law is still less than expected when Congress first approved it in 2010. Since its passage, the estimated price tag for ObamaCare has declined by about 25 percent, or $157 billion.

    About like FREE BEER!!!*

    *Actual beer not actually free.

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