Six years after passage of the Patient Protection and Affordable Care Act (PPACA, aka “Obamacare”), the ranks of Medicaid and Children’s Health Insurance Program (CHIP) recipients have swelled, while enrollees on the federal and state health insurance exchanges have missed the official target by millions.
Such is the conclusion of a study just released by the Congressional Budget Office (CBO).
Some 68 million Americans now enjoy health care through Medicaid and CHIP. Meanwhile, though the CBO projected 21 million would be enrolled in private health policies by this point of Obamacare’s trajectory, only 12 million have actually done so, with 85-plus percent of them receiving generous subsidies and tax credits.
According to the CBO, the PPACA budget hit is now $103 billion a year, with $64 billion going to Medicaid/CHIP and $39 billion to subsidies.
For the full story on how the Affordable Care Act (ACA, or Obamacare) affects your business, no matter how large or small, please obtain a copy of our comprehensive yet easy-to-follow Affordable Care Act Compliance Kit.