How much will the Affordable Care Act (also known as Obamacare) cost you? Our new policy points look at the cost Pennsylvanians will shoulder under the sweeping health care reform law.
First, there are 20 new taxes in the ACA (Affordable Care Act). Together, these taxes are expected to take over $500 billion from American taxpayers between 2012 and 2022. That’s $1,591 per person or $6,363 per family of four.
On top of federal taxes, Pennsylvanians are facing a crisis in Medicaid, which is government insurance for the poor. Over the past decade, Pennsylvania’s Medicaid spending increased 83 percent, nearly twice as much as personal income (45 percent over the last 10 years). At this rate of growth, lawmakers will be forced to raise taxes or slash state spending in other areas, such as education.
The costs of the ACA aren’t limited to our checkbooks. The quality of health care will also suffer. From doctor shortages to government rationing in Medicare, the ACA fails to make health care more accessible for Pennsylvanians of all incomes.
Instead of piling on more expensive government regulations, it’s time we return control of health care to patients.