Remember Mitt Romney’s Amazing Health Care Plan
Spending on the state’s landmark health insurance initiative would rise by more than $400 million next year, representing one of the largest increases in the $28.2 billion state budget the governor proposed yesterday.
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The biggest driver of the cost increase is projected growth in the number of people signing up for state-subsidized insurance, which now far exceeds earlier estimates.
I’m shocked! Shocked I say. You mean to tell me that when you offer a subsidized commodity in a market with similar commodities that are not subsidized, people go for the subsidized one instead?!?!?! Simply amazing.
State and federal taxpayers are expected to bear nearly all of the additional cost.
And yet Romney is supposedly a Republican. Let me see, is it usually part of the Republican platform to get one group of people to pay for another groups consumption of a product or service? I guess so.
But the long-term cost of the insurance initiative continues to concern pol icy makers and analysts, who are worried that it may become unaffordable.
“These increases are more than anticipated, so we absolutely have to find ways to hold down the rate of growth in future years,” said Michael Widmer, president of the Massachusetts Taxpayers Foundation, a business-funded budget watchdog that has supported the initiative.
Here are two ideas that push the cost back on the individuals in the plan and will never show up on a balance sheet anywhere:
- Increase waiting times.
- Suspend certain procedures, treatments, etc.
The nice thing about these two is that while they impose costs in the individuals in the plan, there are no dollor costs. Externalities if you will.
Patrick said he is optimistic about federal support, but acknowledged that “nothing is certain.”
Separately, the state is counting on $5 million in revenue from businesses that don’t provide insurance for their employees, down from the $24 million included in this year’s budget that has not materialized.
Yeah, let’s count on money that doesn’t materialize.