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Obama health plan to cost $75 billion

News Type: Event — Seeded on Wed Nov 12, 2008 1:39 PM EST
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President-elect Barack Obama's plans to overhaul the U.S. health care system would cost the federal government $75 billion but would provide health insurance for 95 percent of Americans, consulting firm PriceWaterhouseCoopers said on Wednesday.

This works out to about $2,500 per newly insured person, the firm said in a report.

"The plan would increase to $1 trillion cumulatively by 2018 or approximately $130 billion per year," the report said.

While the plan would extend health insurance to two-thirds of the 47 million people who currently lack it, the overhaul may worsen some problems, such as a shortage of primary care doctors, the analysis found.

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Dr Danny

"Unless costs are cut, growing health care costs will increase the costs of Obama's plan dramatically over time and reduce the effectiveness of mandates. This could make the federal costs unsustainably high," the report read.

"Because of the deficit and financial crisis, there's unlikely to be any new federal money available, so health reform may require reallocation of dollars already in the health system."

I wrote about some major problems of the Obama healthcare plan back in September. It seems as though PriceWaterhouseCoopers have found some major problems with it too. However, this report didn't go far enough and didn't reflect upon the drop in quality of healthcare provision as well as dramatic reductions in R&D that will ultimately result from this plan.

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Reply#1 - Wed Nov 12, 2008 1:43 PM EST
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