Economic experts at the Health and Human Services Department concluded in a report issued Thursday that the health care remake will achieve Obama’s aim of expanding health insurance — adding 34 million to the coverage rolls.
But the analysis also found that the law falls short of the president’s twin goal of controlling runaway costs, raising projected spending by about 1 percent over 10 years. That increase could get bigger, since Medicare cuts in the law may be unrealistic and unsustainable, the report warned.
To better visualize the findings of the Center for Medicaid and Medicare Services report that has some Republicans in such a tizzy, here are two graphs using the report’s data. The first looks at national health expenditures with and without the Affordable Care Act:
Now look at the change in the uninsured.
Ezra concludes his post by saying:
The basic question here is whether covering 34 million Americans is worth adding a percentage point or two more to our health-care spending for a couple of years, at which point total spending should actually fall below what it would’ve been if this bill had never passed. There’s a different question of whether we can stick to the cost controls in the bill. I think we can, and that if we can’t, we’re doomed one way or the other. But so far as the report’s estimation of the bill’s projected costs go, we’re getting a much more decent society for a very low price.
When you look at the graphs you will see spending the same with or without reform in the first 10 years. And the number of uninsured decrease from 45 million to 20 million. The pay off from this bill is enormous. Yes, it doesn’t lower cost in the first 10 years (health care cost start to decrease in 2020) but it gives 35 million insurances, who otherwise wouldn’t, for the same price without health care reform. So, to answer Ezra question. Yes it is worth it.