Scott Wahlin, CGCS said: The Estimated Net Cost of the Insurance Coverage Provisions Is Smaller Than Estimated in March 2011
CBO and JCT now estimate that the insurance coverage provisions of the ACA will have a net cost of just under $1.1 trillion over the 2012-2021 period-about $50 billion less than the agencies' March 2011 estimate for that 10-year period.
From:
http://www.cbo.gov/publication/43080
As you read farther down the page what is this?
The ACA's provisions related to insurance coverage are now projected to have a net cost of $1,252 billion over the 2012-2022 period; that amount represents a gross cost to the federal government of $1,762 billion, offset in part by $510 billion in receipts and other budgetary effects (primarily revenues from penalties and other sources).
What I got out of it the rising cost of the program will be paid for by raising penalites and more taxes on the people who already have the cadillac of insurance premiums.
Gross additional costs of $1.5 trillion for Medicaid, the Children's Health Insurance Program (CHIP), tax credits and other subsidies for the purchase of health insurance through the newly established exchanges and related costs, and tax credits for small employers,
Offset in part by about $0.4 trillion in receipts from penalty payments, the new excise tax on high-premium insurance plans, and other budgetary effects (mostly increases in tax revenues
Scott there is alot that I read here I dont understand. Im being serious. What does this line mean:
$107 billion in deficits from the projected revenue effects of changes in taxable compensation and penalty payments and from other small changes in estimated spending.
Really can they post something that a person can understand, really you go nuts trying to figure it out.
What did it cost the country before this reform???