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 Health is Wealth
 
US: A guide to real costs and consequences of the new health care law
Cato Institute, United States Thursday, July 15, 2010

Michael Tanner
The new health care reform bill is incredibly long and complex. It has become law now, and is likely to make American's less healthy and less in control of their health care decisions. A lot many American's would be uninsured by the end of this century, writes Michael Tanner in the Cato Institute.

For better or worse, President Obama's health care reform bill is now law. At more than 2,500 pages and 500,000 words long, its length and complexity have led to massive confusion about its likely impact. This incisive report provides an authoritative and deeply revealing explanation of the bill's provisions. Its diagnosis is that the bill is bad medicine. It is likely to make Americans less healthy, less able to direct their own health care decisions, and places huge burdens on our economy and national debt.

The new health care bill — the Patient Protection and Affordable Care Act — is the most significant transformation of the American health care system since Medicare and Medicaid. Included in this new analysis of the bill's provisions are details on the following:

    *
      While the new law will increase the number of Americans with insurance coverage, it falls significantly short of universal coverage. By 2019, roughly 21 million Americans will still be uninsured.
    *
      The legislation will cost far more than advertised, more than $2.7 trillion over 10 years of full implementation, and will add $352 billion to the national debt over that period.
    *
      Most American workers and businesses will see little or no change in their skyrocketing insurance costs, while millions of others, including younger and healthier workers and those who buy insurance on their own through the non-group market will actually see their premiums go up faster as a result of this legislation.
    *
      The new law will increase taxes by more than $669 billion between now and 2019, and the burdens it places on business will significantly reduce economic growth and employment.
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      While the law contains few direct provisions for rationing care, it nonetheless sets the stage for government rationing and interference with how doctors practice medicine.
    *
      Millions of Americans who are happy with their current health insurance will not be able to keep it. In short, the more we learn about what is in this new law, the more it looks like bad news for American taxpayers, businesses, health-care providers, and patients.

This article was published in the Cato Institute on Thursday, July 15, 2010. Please read the original article here.
Author : Michael Tanner is a senior fellow with the Cato Institute and co-author of Healthy Competition: What's Holding Back Health Care and How to Free It.
Tags- Find more articles on - insurance | obama | taxes

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