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Medicare Official doubts health care law savings
Posted: Jan 26, 2011
Medicare official doubts health care law savings
(AP) – 3 hours ago
WASHINGTON (AP) — Two of the central promises of President Barack Obama's health care overhaul law are unlikely to be fulfilled, Medicare's independent economic expert told Congress on Wednesday.
The landmark legislation probably won't hold costs down, and it won't let everybody keep their current health insurance if they like it, Chief Actuary Richard Foster told the House Budget Committee. His office is responsible for independent long-range cost estimates.
Foster's assessment came a day after Obama in his State of the Union message told lawmakers that he's open to improvements in the law, but unwilling to rehash the health care debate of the past two years. Republicans want to repeal the landmark legislation that provides coverage to more than 30 million people now uninsured, but lack the votes.
Foster was asked by Rep. Tom McClintock, R-Calif., for a simple true or false response on two of the main assertions made by supporters of the law: that it will bring down unsustainable medical costs and will let people keep their current health insurance if they like it.
On the costs issue, "I would say false, more so than true," Foster responded.
As for people getting to keep their coverage, "not true in all cases."
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Since when is a "Medicare Official" the authority on what will or will not happen? - sm
[ In Reply To ..]A Medicare official (hopefully) has certain areas of expertise, but prognostications like this seem outside that area. Most of us don't look to a "Medicare official" for answers to tough questions. They are hired for a very narrow set of skills and knowledge.
I think he probably has a pretty good grasp on - the situation. Medicare sets
[ In Reply To ..]the standard with a lot of insurance issues such as payment, denials, and the others follow.
I thought I read that he is the "Chief Actuary" for Medicare which would I assume mean he does a lot of researching in these types of things, not just some random Medicare employee.
ruh-roh - sm
[ In Reply To ..]Yes, you are right. This is horrible news for the White House.
This guy has absolutely no political agenda - read his bio and creds. He's the main numbers guy for Medicare.
Oh my - I guess Joe Wilson was correct last year at the SOTU. So much for all of us being called "fear mongers and haters."
Foster - sm
[ In Reply To ..]Yes, that narrow set of skills and knowledge is exactly why he was called to congressional hearings. He's an actuary. That's his job.
If you do some research, you will find that Foster actually went after President Bush and his numbers of Medicare.
03/25/2004: "The chief Medicare actuary, Richard S. Foster, told Congress on Wednesday that last June he provided the White House with data indicating that prescription drug legislation would cost 25 percent to 50 percent more than the Bush administration's public estimates. That information did not make its way to Congress for six more months."
He was a hero for the left just a few years ago. Where's the love now?
Mr. Foster is certainly not partisan - he's just a guy who tells the truth - on both sides.
As one of those 30 Million unsurable due to preexisting condition - Hoping For Better Than We Have Now
[ In Reply To ..]I was thrown out by the insurance companies. I think we can do better.
The pre-existing condition? High blood pressure completely under control (for years) by medication.
I would try other companies. I use to sell insurance - and that would not keep
[ In Reply To ..]someone from getting insurance for the companies I sold for. You would be rated (higher premium) but not totally denied. Now, if you had high cholesterol, diabetes, obesity or smoking just to name a few to go with it, then that would be a denial but not just for controlled hypertension.
Try not to have a stroke until 2014 - Been there
[ In Reply To ..]In the ramp up to Affordable Care, you might want to check into this as a stop gap measure:
http://www.healthcare.gov/law/provisions/preexisting/index.html
Just don't be old and unemployed.
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