U.S. Sen. Mike Johanns today issued the following statement after the U.S. Supreme Court upheld the 2010 health care law:
"The Court today ruled the health care law is the law of the land, and that's something we have to live with unless and until we repeal it, which I continue to fully support. Now we have a multi-trillion dollar bill which threatens the budgets of our federal and state governments as well as families nationwide. Even health care experts within the Administration project health insurance premiums will increase at more than double the rate under the law than they otherwise would have without it. A ruling that the law is constitutional doesn't mean it is wise or that we have to keep it on the books, and I will continue to press for full repeal."
The law is projected to cost $2.6 trillion through the first full decade of implementation. Despite this spending, the Administration's Center for Medicare and Medicaid Services (CMS) estimates it will more than double the growth of private health insurance premiums:
"In 2014, growth in private health insurance premiums is expected to accelerate to 7.9 percent, or 4.1 percentage points higher than in the absence of health reform." (CMS)
Medicare Part A is currently projected to become insolvent by 2024, according to CMS. Today, the average couple pays $116,000 into Medicare over their lifetimes, and receives $351,000 in benefits. Rather than ensuring the program's long-term solvency, the health care law sapped $500 billion from Medicare to pay for new entitlement programs.
CMS additionally projected the law to increase Medicaid costs by $725 billion through 2021. Likewise, according to a Congressional committee report, the law's Medicaid expansion could mean $118 billion in unfunded mandates on states through 2023, which could result in higher taxes and cuts to state services like education and law enforcement.
The health care law created 159 new federal boards and commissions, added more than 12,000 pages of regulations to the books, and gives the Secretary of Health and Human Services more than 1,700 new or expanded powers.