With everything that has happened since the Affordable Care Act was first introduced into Congress in 2009, does anyone recall what they said was its main purpose? To refresh your memories, the main purpose was to provide affordable healthcare insurance so that EVERY American would be covered. They even imposed a penalty, fine tax or whatever you want to call it, to force everyone to purchase healthcare insurance.
When the atrocity was passed by Congress in 2010, the Congressional Budget Office estimated that 13 million people would sign up for Obamacare by the end of 2015. Last week the CBO revised that estimate down to 12 million enrollees. Ironically, the Obama administration, who always seems to be overly optimistic, estimates that only 9 million Americans will be enrolled by the end of 2015.
The CBO also seems more optimistic in their estimates by predicting 21 million enrollees by the end of 2016 and that it will result in 16 million uninsured Americans becoming insured by either Medicaid or the Children’s Health Insurance Program.
So how does this make for another failure for Obamacare? The same CBO report also stated that they estimate that in ten years there will still be 31 million uninsured Americans. That sounds like a far cry from meeting the stated purpose for passing the Affordable Care Act.
Don’t forget that another recent CBO report estimated that an additional 10 million American’s will lose their employer provided healthcare insurance due to the employer mandate. That’s because of how many employers are cutting worker’s hours to below the 30 hours a week so that they don’t have to provide the more expensive healthcare benefits to their employees.
Other companies are opting to pay the $2,000 per employee fine for not providing healthcare coverage rather than pay for coverage that could cost them anywhere from $4,000 upwards to $7,000 or more per employee. Large companies could save millions of dollars by either cutting employee hours or just paying the fines.
If you combine the two reports and use the Obama administration’s estimate of 9 million enrollees this year and the CBO estimate of 10 million losing employer coverage, you end up with a net loss of 1 million. If you use the more optimistic CBO estimate of 12 million new enrollees, you still only end up with a mere 2 million more insured Americans than what you started with.
I’ve seen estimates of how many Americans are currently uninsured and they range from 24 million up to over 36 million. I suspect the number is even higher, but the federal government is doing their utmost to keep the real number hidden, just like they did with the true unemployment levels.
No matter how you look at it, every new report from the CBO or others all point to the same underlying fact—Obamacare is a complete failure in relation to its stated purpose. However, if you believed them when they stated their intended purpose, then I have some property to sell you in Washington DC.