...The CBO report indicates that consumers could end up paying less directly to their insurers once the health insurance exchanges come into being in 2014, but it will be at the cost of more than $500 billion in new taxes, according to an ATR analysis...
A $60.1 billion tax on health insurers that will begin in 2014.
- A $20 billion tax on medical device manufacturers starting in January 2013.
- An $86 billion hike in the Medicare payroll tax starting in January 2013.
- A $123 billion surtax on investment income targeted at those earning more than $250,000 starting in January 2013, among others.
We're not done. The State of Wisconsin will get hammered, too!!
States are being forced to confront burgeoning costs associated with the health care law’s mandate that their Medicaid plans cover all those earning 133% above the federal poverty level starting in 2014. This increased Medicaid caseload will be 100% subsidized by the federal government until 2016.
They also will be responsible for covering those who are currently eligible for, but not currently served by, Medicaid during the same time period. “Given the fiscal damage of the recession on state budgets, these additional costs may be difficult to absorb even a few years from now when implementation of the reform measures begin,” top credit-rating company Moody’s
For practical purposes, all the Act 10 savings will disappear beginning 2014.
Recovery? If there is one, it won't last long.