Health Care Spending Expected to Increase by $621 Billion

By Ray Pinard | October 22, 2013

Here’s an interesting article by Sean Hackbarth, published on the FreeEnterprise.com website.

It may be the named the Patient Protection and Affordable Care Act, but the health care law won’t make health care more affordable, according to Centers for Medicare and Medicaid Services (CMS) actuaries. Instead, health care spending is projected to increase by $621 billion by 2022, and the report states that Obamacare is partly to blame:

Improving economic conditions, the Affordable Care Act (ACA) coverage expansions, and the aging of the population, drive faster projected growth in health spending in 2014 and beyond.

This isn’t what was promised. On signing the law in 2010, President Obama said, “This legislation will also lower costs for families and for businesses and for the federal government.”

Read more

Originally published October 2013. Reprinted by permission, freeenterprise.com, October 2013.
Copyright©2013, U.S. Chamber of Commerce.

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