Cost of Health Care Law Is Seen as Decreasing

See on Scoop.itDidYouCheckFirst

A slowing trend in health care spending has lowered the law’s price by billions, and future cost controls may save billions more.

Greg Russak‘s insight:

"Already, the Congressional Budget Office has quietly erased hundreds of billions of dollars from its projections. It now estimates that Medicare spending in 2020 will be $137 billion lower than it thought in 2010, a drop of 15 percent; Medicaid spending will be $85 billion, or 16 percent, lower; and private health insurance premiums are expected to be about 9 percent lower.

Some economists say they believe that the Congressional Budget Office might be underestimating the long-term effect of the slowdown, because it expects that spending growth will eventually return to its previous trend line. David M. Cutler, a Harvard economist and former Obama adviser, cautiously suggests that the slower growth might stick around, and if so the savings for the government might be a whopping $750 billion over 10 years, he says.

 

Whether such improvements will last depends on whether private firms ā€” nudged along by Washington ā€” create and retain incentives to keep spending low."

See on www.nytimes.com

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Author: Peaceful Patriot

Proud middle class husband, father, and progressive liberal. Registered Non-Partisan but have much more in common with Democrats than Republicans. Consider Libertarians to be immature and underdeveloped in their understanding of reality. An atheist who doesn't care what you believe so long as you stop pretending the Founding Fathers intended for you to legislatively force your beliefs on everyone else. Laughs out loud in mocking disdain at the abject lunacy of birthers, climate science deniers, and hard core tea partiers. If that offends you, too bad. You're not rational and have no place at the adult table.

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