The Congressional Budget Office (CBO) missed the mark by a substantial margin on their original predictions regarding the impact of Obamacare.
The CBO’s 2009 analysis predicted that individual insurance premiums would increase 10 to 13 percent by 2016. They were off by roughly 90 percent, as the Department of Health and Human Services reported last week that premiums have doubled from 2013 to 2017 on average.
Republican Sen. Mike Lee of Utah expressed a sense of urgency in a recent statement about rising premiums.
“Every time I travel back to Utah, I hear from constituents whose health insurance premiums are now higher than their mortgages,” Lee said in a statement provided to The Daily Signal. “This has to stop.”
The CBO predicted in 2010 that 32 million previously uninsured Americans would attain coverage as a result of the Obamacare legislation. In reality, 20 million people have gained coverage. It also predicted that 23 million people would be enrolled in Obamacare exchanges in 2017. To date, 12.2 million are signed up.
The inaccuracies associated with the CBO’s Obamacare projections have a renewed relevance in light of the recent release of its AHCA projections. The report indicates 24 million fewer people will have health insurance by 2026, relative to the existing law.
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