As would be expected, there are plenty of tricks in the Senate health care bill. Take those out, and the actual cost somewhere around $4.9 trillion over the next 20 years, although of course the true cost is not really known.
Keep in mind that as the government spends all this money, it will also be requiring you to purchase more expensive health insurance, with your money.
Here’s where some of the money is hidden:
– $200 billion was going to be cut from physicians under the Medicare program. This is being stopped under the “Doctor Fix bill (H.R. 3962), but the Senate bill ignores the cost.
– A new government health care program for long-term health insurance, the CLASS Act, will, according to the CBO, eventually lead to costs exceeding incoming premiums.
– Revenue will be taken in from the get-go, but expenses are four years. So the 2010-2019 budget estimates do not really account for the cost of fully implementing everything.
– The cuts to Medicare, ultimately, won’t be found and won’t stick. This includes $118 billion in cuts to Medicare Advantage.
– Unfunded mandates to states to increase Medicaid spending will cost billions – an estimated $2.8 billion in extra state spending in Texas, $1.5 billion in Pennsylvania, $1.4 billion in California.
Accompanying all this spending will be, of course, increased taxes – at the federal, and probably the state level as well. There are even new taxes on consumer-directed plans like HSA plans.