Analysis finds healthcare overhaul will increase spending
August 2, 2011 by Personal Liberty News Desk
Despite promises that the healthcare overhaul will cut health spending, recent analysis shows that it may in fact increase healthcare costs.
The Washington Times reports that the Centers for Medicare and Medicaid Services found that over the next 10 years with President Barack Obama’s Affordable Care Act, health spending will grow 5.8 percent annually. However, if the Act had not passed, annual spending for healthcare would increase 5.7 percent, according to the centers.
Senator Orrin G. Hatch (R-Utah) said that the forecast shows that the healthcare overhaul was an unwise piece of legislation.
“Simply put, this report states the obvious, that Americans have known for more than a year — the $2.6 trillion law only makes the fundamental problem of skyrocketing healthcare costs worse,” he said.
Officials with the centers said that part of the reason for increased costs is that the percentage of the population that will be insured will increase.