Well, this is some slightly unpleasant news for the Obama administration. A new report by a group of actuaries at the Department of Health and Human Services concludes that health-care reform will raise costs over the legislation’s first ten years. The increase, however, will only be about one percent or $311 billion out of a total of $35 trillion that will be spent on health care over the course of the decade. And that’s while providing coverage to an additional 34 million people, which the administration argues “is a bargain,” according to CBS News. Oh, and cuts to Medicare “could drive about 15 percent of hospitals and other institutional providers into the red, ‘possibly jeopardizing access’ to care for seniors.” Expect that warning to be highlighted in Republican campaign ads airing during the Price Is Right in the coming months.
