Club 20 to address health insurance

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Mike Bambino should get his facts straight.  [See:  on-line letter, “Obamacare will cost trillions, increase government dependency”, August 30, 2013.]

Thus, as reported by Bloomberg News yesterday, Rand Corporation researchers found that “Predictions of sharp increases in health-insurance premiums for people getting coverage under the Affordable Care Act have been over-stated and many states will see little to no change”.  Actually, health insurance premiums annually increased by an average of 10% to 15% in the decade prior to the Affordable Care Act, but by only 6.1% in 2011, 4.1% in 2012, and 4% in 2013 (and never Bambino’s “30%”).

While some employers are indeed cutting jobs and hours to reduce their health insurance expenses, 94% of firms with more than 50 employees will still provide at least employee coverage.  Moreover, the Congressional Budget Office (“CBO”) found “ObamaCare” to be a net “job creator” – reducing existing employment by 0.5%, but stimulating millions of new health care jobs and enabling smaller businesses to expand by reducing and subsidizing their health insurance costs.

Seniors were being “rationed” before “ObamaCare” (due to Congressionally-imposed caps on Medicare reimbursement rates), and older doctors were retiring for a variety of reasons (including the cost of converting to electronic medical records).  Meanwhile, S.744 – the comprehensive “Border Security, Economic Opportunity, and Immigration Modernization Act” now pending before the House – could greatly increase the inflow of qualified foreign-trained physicians using Conrad-30 J-1 visa waivers.

As to “freeloaders (both legal and illegal)”, S.744 expressly exempts undocumented immigrants from eligibility for “ObamaCare”).

FACT:  employers and individuals will pay for health insurance coverage (not “free”), and the CBO estimates that only 35 million (not Bambino’s 150 million) Americans will qualify for subsidies by 2019, costing $210 billion annually (not Bambino’s “trillions”).

Therefore, Sentinel readers should better attend Club 20’s all-day program on September 7 (Gary Harmon, “Club 20 to address health insurance”) rather than believe Bambino.

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