By Brian Blase |
New York Post, Feb. 28, 2021
Democrats’ holy grail is reducing income inequality. So it’s ironic that they are considering a bill to expand ObamaCare that will primarily benefit richer households and health-insurance companies.
The massive coronavirus relief bill racing through Congress provides substantial new health-insurance subsidies to upper-income households. In some parts of the country where premiums are high, families with incomes exceeding half a million dollars will qualify for thousands of dollars in subsidies to buy an ObamaCare plan. In contrast, a family of four making $40,000 receives an added benefit of just $1,600.
The Congressional Budget Office estimates that the expanded subsidies will cut the average number of uninsured by one million at a cost of $34 billion over the two years–subsidies that go directly from the Treasury to health-insurance companies. This is a hefty $34,000 in higher spending for every person who gains insurance for two years. Overall, 75 percent of the total spending represents taxpayers replacing what households used to pay with their own money.
Once again, the Democrats appear ready to unilaterally pass a law that ratchets up our already unsustainable health-care spending, inflating health-care prices and health-insurance premiums. This time it would also worsen income inequality. Health insurers, who have already reaped large profits from ObamaCare, are fully on board. And taxpayers? Well, at some point the government may run out of other people’s money.
Read the full NY Post article: https://nypost.com/2021/02/27/dems-new-covid-relief-bill-subsidizes-health-care-for-the-rich/
Brian also was a guest on The Journal Editorial Report on Saturday. Here’s a link to his segment with a backup link here. WSJ Editorial Page Editor Paul Gigot and Brian Blase dive into the outrageously regressive expansion of Obamacare subsidies in the Covid bill and the bill’s bribes for states to expand Medicaid.
And Brian was interviewed on Saturday by his former White House boss Larry Kudlow, who has revived his popular ABC Radio show. Here’s a link to the show.