Fix Health Care Policy

On March 13, the Congressional Budget Office (CBO) updated its score of Obamacare, announcing that the program is $48 billion cheaper than in its previous 2011 score.

The primary reason for this change is that more individuals will lose their employer-provided coverage than originally anticipated, and the government will collect $99 billion more in taxes and penalties. CBO also finds that there are more uninsured individuals.

In short, this new CBO update continues the trend of Obamacare becoming increasingly expensive and decreasingly effective with each new scoring update.

In this round, CBO announced that the individual mandate penalties will increase by one-third, or $11 billion, as more individuals choose not to purchase insurance. This is especially surprising since CBO also estimates that health insurance premiums will be cheaper in the next decade. Thus, even with cheaper premiums, fewer people will choose to acquire insurance.

Read the rest on The Foundry…

Tags: Congressional Budget Office, more penalties, Obamacare score, taxes, uninsured individuals