The Cost Of Affordable HealthCare
Updated: Tuesday, December 3 2013, 11:58 PM CST
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Kristine Frazao Reporting
Once again there is good news and bad news when it comes to the Affordable Healthcare Law. The good news is spending on healthcare has slowed dramatically.
It's in large part a result of the stagnant economy. Spending on Medicare and Medicaid is expected to be far less than initially thought. According to a Congressional Budget Office report, spending on Medicare will go down $137 billion and $85 billion dollars less will be spent on medicaid in the next 10 years.
The White House Council of Economic Advisors is praising the progress, as well as former president Bill Clinton.
But here is the bad news. Subsidy payments to insurance companies could cost more than a trillion dollars over the next decade.
Ryan Ellis of the American For Tax Reform says, "This was always part of the Obamacare law and what it says is if a insurance company participates in Obamacare for the first few years and loses too much money in the process then they get a bailout from Washington DC."
Ellis says with President Obama allowing millions of Americans to keep their canceled health plans, the structure of the law has fallen apart since it will decrease the number of young people signing on the health exchanges.