The Centers for Medicare and Medicaid Services (CMMS) released a report Friday analyzing the impact of Majority Leader Harry Reid’s health care bill currently under consideration in the Senate. It found that the “Patient Protection and Affordable Care Act of 2009” will in fact have a considerable financial impact – but not in the way many proponents of the bill are promising.
The report finds that the legislation will raise health care costs by $234 billion, will force 17 million people out of their current employer provided health insurance plans, and will curb Medicare Advantage benefits pushing 33% of customers out of the system.
Additionally it will put more than 20% of the country on welfare and will inevitably worsen health care accessibility for the poor and uninsured. First cutting Medicare by $439 billion while simultaneously expanding the program to those aged 55 and older and second, increasing enrollment for Medicaid to 150% of the FPL while raising the cost burden on the states and taxpayers and cutting payments to doctors and providers – further destabilizing the system and creating more barriers to access.