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Did You Know? – Washington Math

Fingers crossedTo create the appearance that Obamacare would cost less, Congress assumed that, once passed, employers will drop employee health coverage and instead, opt to pay a $2000 fine.  They further assumed employers would then give raises to those whose insurance had been dropped, resulting in an additional $53 billion in Social Security payments.  Rather than apply the SS payments to the retirement system, Mr. Obama used the money to show a lower cost for his signature healthcare legislation. 

According to Medicare actuary Richard Foster, in 2014, the net cost of Medicare is expected to increase from 3.5% to 14%, triple what it would have been without PPACA.   Private insurance premiums increases are expected to double from 5% to 9.5%.  As Rev. Wright would say, that chicken has “come home to roost!”
More Did You Know Facts…

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