I thought Forbes was a serious publication, but apparently not. Check out Chris Conover’s “Obamacare Will Increase Health Spending by $7450 for a Typical Family of Four.”
Here’s a news flash for you — if you provide health insurance to 30 million more people, health care spending will go up! Conover takes the Medicare actuary’s prediction that health care spending will go up $621 billion over the next ten years, and works that out to $7,450 for a “typical” family of four.
Conover contrasts this increase in spending with Obama’s promise that premiums would go down $2,500 a year for a family of four. Now, if you read the article carefully, it’s clear that he’s comparing the apples of $7,450 over ten years with the oranges of $2,500 per year.
Guess who either didn’t really the article carefully or who doesn’t give a damn about the truth (and I suspect it’s the latter)? Sean Hannity and Ted Cruz. On his show tonight, Sean explicitly said that it would be an increase of $7,450 per year for a family of four. Ted Cruz chimed in that it was a $10,000 swing compared to Obama’s promise. Um, only if you purposely confuse a single year with a decade because you’re trying to scare the hell out of people. I’m guessing that many more people watch Sean than will read the Forbes article, let alone read it carefully.
The other problem with Conover’s article is that he talks about an increase in health care spending as if he were talking about a family’s out–of–pocket costs. He makes no attempt to distinguish how much will be paid by the government (expanded Medicaid, health insurance subsidies, etc.), how much will be paid by insurance, and how much will actually paid by that “typical” insured family of four.
Because if he did that, if he were honest, it wouldn’t be anywhere near $7,450, and it wouldn’t be so impressively scary.