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According to an official draft of the Administration’s regulations for implementing the new health care reform law, 51% of all Americans will lose their current health care plans over the next three years. Furthermore, 66% of all employees working for small businesses will lose their current health care plans under the regulations to establish how existing plans will meet the new mandates of the health care reform law.
 
“This is a bait and switch.  The President and leaders in Congress made a different set of promises to the American people before their bill was passed, now the details are coming out and they don’t match the promises,” said Congressman Bill Posey (R-Rockledge). “The President promised repeatedly that people who like their current plans can keep them but now the details of their plan actually confirm what many suspected all along, most Americans will lose their current health care plan.”
 
A copy of the draft regulations can be viewed HERE.
 
Last month the Congressional Budget Office (CBO) released a revised cost estimate of the new health care reform law upping the total cost by $115 billion thereby virtually eliminating the earlier estimated cost savings that was touted by the Majority when the bill passed in March.  This was due to the fact that in their original cost estimate, CBO excluded many of the add-on discretionary costs.
 
The CBO said the administrative costs of implementing health care reform combined with various federal grants programs and mandatory Medicaid expansion will now push the overall cost of the legislation to well over $1 trillion.  Addressing the bill’s $300 billion shortfall in payments to physicians under Medicare drives the real costs of the bill to nearly $1.5 trillion over the first 10 years; far above the $900 billion cost advertised the day the bill was passed.  “This is why transparency in the process is so important. Congress shouldn’t pass thousands of pages of legislation affecting all Americans without allowing folks the proper time to read and analyze the proposals.  This bill must be repealed.”