Sean Williams calls it “the Federal Government’s $146 billion Obamacare boo-boo.”
As noted by the CBO report, the biggest boo-boo comes the federal governments’ estimate of how many people would enroll for Medicaid and Children’s Health Insurance Program (CHIP).
Initial estimates from back in 2010 pegged Medicaid and CHIP combined enrollment at about 52 million in 2016. The actual figures? How about 68 million current enrollees in 2016, or a difference of 16 million. The report notes that total Medicaid/CHIP enrollment grew by 3 million last year, and it’s expected to swell to 74 million by 2026.
How did the federal government miss so badly? The CBO believes that fewer people than expected enrolled in employer-sponsored plans because they were eligible for free healthcare under the expanded Medicaid program.
People won’t buy overpriced insurance they can’t afford to use when there’s a free alternative paid for by Uncle Sugar?
Slightly more seriously — as though there’s anything comical about sticking taxpayers with an extra $156 billion tab — is what happens if more states end up enrolling in the Medicaid expansion. Currently 19 states have told Washington “No thanks,” including big ol’ Texas. Should those holdouts decide they can’t forego the “free” benefits any longer, ♡bamaCare!!!’s exploding costs are going to make an even bigger bang.
That Means It’s Working™