What Might James Madison Say About the "Patient Protection and Affordable Care Act"?
There have been 38 changes to this law via administrative action, executive order or what I'll refer to as "amendment to prosecutorial discretion."
Statute itself is over 2,400 pages.
If the regulations implementing the statute hold to the same ratio as Medicare’s regulations-to-statue ratio, that will mean PPACA’s regulations will exceed 140,000 when they are all done.
It will cost over $1.5 Trillion when fully implemented - CBO revised estimate, March 2014. Price at passage was $0.9T.
In 1965, government experts projected that in 1990, on an inflation-adjusted basis, Medicare would cost $12 billion. In reality, Medicare cost $107 billion in 1990.
2013's edition of the Federal Register passed the 80,000 page mark. An average weekday represents another 330+ pages of new federal rules, orders and hearings.
HCR creates 20 new federal fees and taxes. (Tanning salons, FSA max’s, robust plans, premium tax, insurer risk corridor tax, Medicare increase, investment income increase, Rx tax, device tax, etc.)
Analysis by the Joint Economic Committee and the House Ways & Means Committee estimates up to 16,500 new IRS personnel will be needed to collect, examine and audit new tax information mandated on families and small businesses in HCR.
The Law will greatly increase the federal government’s role in healthcare by expanding Medicaid by 33% and involving HHS in the design, sale and regulation of health insurance products.
For nearly one-third of calls into the Medicaid/Medicare hotline reporting waste, fraud and abuse, government workers take over 4 months to begin investigation.
President Obama called Medicaid a broken system in 2009.
31 million nonelderly residents of the United States are likely to remain without health insurance in 2024, roughly one out of every nine such residents.
This means that we will go from 45 million uninsured to 31 million for a net reduction of 14 million.
There are 314 million people in America. This equates to a 4.5% reduction.