Michael Boskin: Get Ready for Obamacare's 'Rude Awakening'

Monday, 16 Dec 2013 11:53 AM

By Courtney Coren

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Americans are in for a "rude awakening" as the economic and political Obamacare "shocks" are likely to "get much worse next year and beyond," says former President George H.W. Bush's chief economic advisor.

Former Council of Economic Advisers Chairman, Michael Boskin detailed what he called the Obamcare "troubles" that Americans should be prepared for in an op-ed piece Sunday in The Wall Street Journal.

As the "sticker shock" of higher premiums associated with Obamacare-approved healthcare plans sets in, "the costs borne by individuals will be even more obvious next year as more people start having to pay higher deductibles and co-pays," Boskin explains.

The next shock he predicts will come as more individuals start finding out they won't be able to keep their doctors, as was promised by President Barack Obama.

To try to keep plans as affordable as possible, "insurance companies in many cases are offering plans that have very restrictive networks, with lower-cost providers that exclude some of the best physicians and hospitals," Boskin says.

He also notes that while the front-end of the HealthCare.gov website may be up and running for the "vast majority" of users, there are still extensive problems with the back-end of the website that "is still under construction," where the government is supposed to calculate subsidies and connect with insurance companies.

"Be prepared for eligibility, coverage gap, billing, claims, insurer payment, and patient information-protection debacles," the Stanford University economics professor warns.

Even those who don't have to purchase insurance through one of the exchanges will face longer waits at hospitals and doctors' offices, he adds.

In addition, businesses will also soon be faced with the decision of offering "Obamacare's expensive, mandated benefits" or dropping their plans and — except the smallest firms — paying a fine, Boskin also notes.

Despite all its problems, Boskin says Republican who want to repeal Obamacare will need "to articulate a compelling alternative to the cost and coverage problems that beset healthcare" overall.

"A good start would be a sliding-scale subsidies to help people buy a low-cost catastrophic plan, purchasable across state lines, equalized tax treatment of those buying insurance on their own with those on employer plans, and expanded high-risk pools," he concludes.


Related Stories:

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Report: Washington Full of Cell Phone Spying Devices

Thursday, 18 Sep 2014 22:12 PM

The Washington, D.C., area is littered with devices that spy on users' cellphones, and one expert thinks they were plant . . .

Man Kills Daughter, Six Grandchildren in Murder-Suicide

Thursday, 18 Sep 2014 21:43 PM

A 51-year-old Florida man shot dead his daughter and six grandchildren in his home before killing himself on Thursday, a . . .

New Chicago High School Won't Be Named After Obama

Thursday, 18 Sep 2014 21:23 PM

President Barack Obama's adopted hometown has nixed a plan to name a new high school after him. Chicago Mayor Rahm Emanu . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved