Every single thing Obama said to force his healthcare takeover into law was a lie. It will bankrupt the nation unless it is repealed.
From the Washington Post:
Medical costs for enrollees in the health-care law’s high-risk insurance pools are expected to more than double initial predictions, the Obama administration said Thursday in a report on the new program.
The health-care law set aside $5 billion for a Pre-Existing Condition Insurance Plan, meant to provide health insurance to those who had been declined coverage by private carriers. Since its launch last summer, nearly 50,000 Americans have enrolled in the program.
The PCIP program will phase out in 2014, when insurers will be required to accept all applicants regardless of their health-care status.
Those who have enrolled in the program are projected to have significantly higher medical costs than the government initially expected. Each participant is expected to average $28,994 in medical costs in 2012, according to the report, more than double what government-contracted actuaries predicted in November 2010. Then, the analysts expected that the program would cost $13,026 per enrollee.
The costs also are significantly higher than those of similar high-risk pools that many states have operated for decades. States spent an average of $12,471 on enrollees in 2008, according to the National Association of State Comprehensive Health Insurance Plans.
The Obama administration has spent $600 million of its $5 billion budget for the program over the past 18 months. More than three-quarters of all spending has gone to covering cancer, heart disease, “aftercare” such as chemotherapy and degenerative joint diseases like osteoarthritis.
Enrollees in the plan tend to use health-care services at much higher rates than the general population, the report said. They have more than eight times as many hospital admissions as government workers in a traditional Federal Employee Health Benefits plan, and more than three times as many emergency room visits.