Monday, January 26, 2015

Budget office lowers ObamaCare price tag by 20 percent

total price tag for ObamaCare’s insurance programs will be 20 percent less than expected, the government’s budget office said Monday.

The law’s insurance provisions are now expected to cost $571 billion through 2019 — a drop of about $139 billion from the government's earliest estimates five years ago, according to new estimates by the Congressional Budget Office (CBO).

The drop in spending is largely due to the smaller-than-expected subsidies load because enrollment in health insurance through ObamaCare has been slower than expected.

The CBO had initially expected 13 million people to sign up for health insurance through the exchanges by the end of this year, though it since revised that figure to 12 million. The enrollment tally is still far higher than the Obama administration's new target of 9 million people this year.

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