Did Obama steal $500 billion out of Medicare under Obamacare?
Sep 12, 2011 · Congress passed the law through its normal process, and the cost reductions for Medicare were out in the open during the many weeks that the final law was being negotiated. Bachmann said that, "We...
How much did Obamacare cut from Medicare?
Aug 06, 2015 · Obamacare 'robbed' Medicare of $700B, says Huckabee Former Arkansas Gov. Mike Huckabee accused "illegals, prostitutes, pimps, (and) drug dealers" of freeloading off the Social Security system...
How much will Obamacare cost in total?
Last week, a new Congressional Budget Office (CBO) report updated the amount of money Obamacare robs out of Medicare from $500 billion to a whopping $716 billion between 2013 and 2022. According to...
How much money will Medicare reform cost?
Aug 17, 2012 · President Obama supported using most of the $716 billion in Medicare savings to help pay for coverage expansion, and supports enacting further savings for deficit reduction. Congressman Ryan supports largely retaining those same Medicare savings, but repealing the coverage expansions and using the money – along with addition savings – for deficit reduction.
How much did Obama steal from Medicare?
Bachmann said that, "We know that President Obama stole over $500 billion out of Medicare to switch it over to Obamacare.".
What is the new spending on Medicare?
Mostly, the new spending in the health care law comes from tax credits to help people of modest incomes buy health insurance and from expanding Medicaid to offer coverage to the poor.
What is the health care law?
To begin with, the health care law leaves in place the major insurance systems: employer-provided insurance, Medicare for seniors and Medicaid for the poor. It attempts to reduce the number of uninsured by expanding Medicaid for the very poor and by offering tax breaks to help people with modest incomes buy insurance.
How much will Medicare cost in 2020?
The nonpartisan Congressional Budget Office projects Medicare spending will reach $929 billion in 2020, up from $499 billion in actual spending in 2009. So while the health care law reduces the amount of future spending growth in Medicare, the law doesn't cut current funding for Medicare.
How much money does Medicare save?
Other savings include $36 billion from increases in premiums for higher-income beneficiaries and $12 billion from administrative changes.
What did Bachmann say about Obama?
She also took the opportunity to criticize the new health care law championed by President Barack Obama, saying, "We know that President Obama stole over $500 billion out ...
Do companies that don't offer health insurance have to pay fines?
And companies that don't offer insurance to employees have to pay fines, with exceptions for small business and a few other cases. The national health care reform law also made several changes to Medicare, which makes up roughly 12 percent of the federal budget.
How much money was robbed from Medicare to fund Obamacare?
Huckabee said, "$700 billion was robbed (from Medicare) to fund Obamacare.". It’s an old claim and an old figure. The law does reduce Medicare spending, but not in the way Huckabee suggests.
Why did private insurers run Medicare?
Under President George W. Bush, private insurers began to run a subset of Medicare plans with the idea that more competition produced lower costs. However, those plans grew to cost more than traditional Medicare, so the Affordable Care Act pared down the payments to private insurers.
Who was the governor of New Jersey who defended his plan to raise the retirement age and change benefits for Social Security and
Huckabee's provocative comment concluded a wonkish back-and-forth between him and New Jersey Gov. Chris Christie about entitlement reform. Christie defended his plan to raise the retirement age and change benefits for Social Security and Medicare, but Huckabee stressed that Uncle Sam was to blame.
Does Obamacare rob Medicare?
Obamacare doesn’t literally "rob" Medicare. But the Affordable Care Act does include provisions that reduce future increases in Medicare spending. In other words, the law slows down the rising costs of Medicare. It’s also important to note that the savings come at the expense of insurers and hospitals, not beneficiaries.
How much money did Obamacare take out of Medicare?
Last week, a new Congressional Budget Office (CBO) report updated the amount of money Obamacare robs out of Medicare from $500 billion to a whopping $716 billion between 2013 and 2022.
What percentage of hospitals will be at a loss by 2050?
The Medicare trustees 2012 report concludes that these lower Medicare payment rates will cause an estimated 15 percent of hospitals, skilled nursing facilities, and home health agencies to operate at a loss by 2019, 25 percent to operate at a loss in 2030, and 40 percent by 2050.
How much did Obama cut from Medicare?
A recent advertisement from the Romney-Ryan campaign claims that “Obama Cut $716 billion from Medicare… to pay for Obamacare.” It continues by claiming that “The Romney-Ryan plan protects Medicare benefits for today’s seniors and strengthens the plan for the next generation.”
How much will Ryan's budget be in 2022?
In addition, Chairman Ryan’s budget would retain the $88 billion in Medicare cuts from the “ sequester ” (from a 2% across-the-board provider reduction) and calls for some additional Medicare cuts. On a comparable basis, President Obama supports about $990 billion of past and future Medicare cuts through 2022.
Has Romney repealed the ACA?
Governor Romney has proposed repealing the ACA in its entirety, and to date has not proposed any changes to Medicare over the next decade other than by enacting medical malpractice reform. Chairman Ryan’s budget would repeal the coverage provisions of the ACA, but would keep most of the $716 billion in Medicare cuts.
Is Medicare a premium support system?
Governor Romney and Congressman Ryan support implementing a premium support system in Medicare for those currently below the age of 55 (when they reach eligibility), which could result in substantial long-term savings.
Did Obamacare cut Medicare?
It is true that the Affordable Care Act (“Obamacare”, or the ACA) cut Medicare spending to finance a new health program. The number that the Romney-Ryan ad cites is from a Congressional Budget Office (CBO) report that estimates repealing the ACA would increase Medicare spending by $716 billion through 2022. This funding was used primarily ...
Will Medicare be kept under the ACA?
Although some lawmakers may not want to retain all of the Medicare reductions from the ACA, many of them stem from ideas with broad bipartisan support – particularly in the policy community – and should at least be kept on the table as we consider ways to slow the growth of Medicare.
Did Obama use Medicare savings?
President Obama supported using most of the $716 billion in Medicare savings to help pay for coverage expansion, and supports enacting further savings for deficit reduction. Congressman Ryan supports largely retaining those same Medicare savings, but repealing the coverage expansions and using the money – along with addition savings – for deficit reduction. Governor Romney believes those Medicare reductions, along with coverage expansions, should be reversed – and has not made any significant short-term Medicare proposals for deficit reduction.
Why did Ryan cut Medicare?
The first is that Ryan’s Medicare cuts were solely used to extend the solvency of the Medicare trust fund, and not to fund new spending elsewhere. By contrast, Obamacare cut $716 billion from Medicare in order to fund $1.9 trillion in new health care spending, through the law’s expansion of Medicaid and its new subsidized exchanges.
What percentage of hospitals will be affected by Obamacare cuts?
The Obama administration's own Medicare actuary, Richard Foster, has explained that the Obamacare Medicare cuts could make unprofitable 15 percent of hospitals serving Medicare patients.
Why would the amount of premiums support increase at the rate of inflation?
Because the amount of premiums support would increase at the rate of inflation, where as health-care costs have historically grown at a faster rate , critics have worried that these trends, if continued into the future, would expose seniors to higher health-care costs out-of-pocket.
Does Mitt Romney campaign on the Ryan budget?
The second point is that Mitt Romney is not campaigning on the Ryan budget. He’s campaigning on his own budget, which fully repeals Obamacare, and eliminates that law’s Medicare cuts. APOTHEFACT CONCLUSION: Romney’s budget doesn’t preserve Obamacare’s Medicare cuts. Simple as that. Defense #2.
Who was Mitt Romney's vice president?
Pete Souza) (Photo credit: Wikipedia) Five days ago, Democrats were cheering the selection of Paul Ryan as Mitt Romney’s choice for Vice President. Democrats thought that Ryan’s efforts at Medicare reform would terrify seniors (with Dems' encouragement, of course), thereby handing the election to President Obama.
Is Romney's Medicare plan worse than Obama's?
The Romney plan for Medicare is worse, because it would shift costs to seniors. A talking point that President Obama has repeated on the campaign trail is that the Romney Medicare plan would “shift costs to seniors.”. This is plainly dishonest, and the President knows better.
Did Paul Ryan's budget preserve Obamacare?
Paul Ryan’s GOP budget preserved Obamacare’s Medicare cuts. Yuval Levin calls this the “ Ryan did it too ” defense. It has the merits of being factually accurate, up to a point. As I discussed on Tuesday, it’s true that the House GOP budget preserved Obamacare’ s Medicare cuts.