PPACA costs are “ROCKETING” to heights understood by any professional in the industry but Washington continues to feign surprise. As a result, Washington is delaying several of the key provisions.
- The $1.3 trillion U.S. health-care system overhaul is getting more expensive and will initially accomplish less than intended.
- Costs for a network of health-insurance exchanges, a core part of the Affordable Care Act, have swelled to $4.4 billion for fiscal 2012 and 2013, and will reach $5.7 billion in 2014, according to President Barack Obama’s budget sent to Congress today. Spending would be more than double the projections, even though less than half the 50 U.S. states are participating.
- Once you’re behind schedule, the way you solve problems is you write checks,” said Doug Holtz-Eakin, a former Congressional Budget Office director who is now president of the American Action Forum, which has opposed the health law.
- For those areas that money can’t solve, the Obama administration instead is opting for delay. It temporarily backed off on some provisions of the law, including restrictions on coverage for executives and a promise to offer small businesses greater choice of health plans.
- The nuts and bolts of the law must function by Jan. 1, even if all the bells and whistles aren’t complete, said Ron Pollack, executive director of Families USA, a consumer advocacy group that backs the health overhaul.
Oh, and Vermont published the rates for individual plans with the poorest benefits “bronze” at $4,200 to $4,440. Do you understand this is $350 to $375 per month for an individual plan. I quote individual plans regularly and the prices I am seeing, depending on the age, can run from $100 to $250 per month – well below those projections.
Vermont was surprised the rates will not higher, well give it 2 years and watch the prices double.