No matter how you spin the bottle, O’Care is a job-killing economic growth roadblock. It is a bureaucratic nightmare that is causing millions of Americans to lose their healthcare coverage and their doctors of choice. Here Cato Institute’s Michael Tanner outlines the failures of O’Care, including the “adverse selection death spiral.”
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Millions of Americans who are happy with their current health insurance will not be able to keep it;
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Americans may find it difficult to keep their current doctor unless they are willing to pay more;
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While there will be both winners and losers when it comes to the cost of insurance, millions of Americans will find themselves paying higher premiums or facing higher out-of-pocket expenses;
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The law’s final cost is difficult to predict, but is likely to exceed early projections;
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Far fewer Americans will be covered than expected, leaving millions still uninsured;
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The law is already having serious economic consequences and will likely lead to a loss of jobs and slower economic growth; and
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There is a significant danger that young and healthy people will not enroll, leading to an “adverse selection death spiral.”
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