Report: Health Costs Still Rising Despite Obamacare
A new study shows that health care costs will continue to rise in line with earlier projections, despite the passage of the health reform bill. The Wall Street Journal reports:
The health-care overhaul enacted last spring won't significantly change national health spending over the next decade compared with projections before the law was passed, according to government figures released Thursday.
The report by federal number-crunchers casts fresh doubt on Democrats' argument that the health-care law would curb the sharp increase in costs over the long term, the second setback this week for one of the party's biggest legislative achievements.
The Wall Street Journal reported Wednesday that insurance companies have proposed rate increases ranging from 1% to 9% nationwide that they attribute specifically to new health-law coverage mandates.
Democrats signaled they would ratchet up pressure on the companies. "Insurers are using the consumer protections in health reform as a cover for their own greed," said Rep. Pete Stark (D., Calif.), chairman of the House Ways and Means health subcommittee.
Michigan Rep. Dave Camp, the top Republican on that committee, said the rate increases underscore why lawmakers should repeal the legislation and replace it with changes that make care more affordable.
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