US Will Dump $700-Billion into Obamacare Subsidies in 2018• needtoknow.news by Zero Hedge
The extravagant benefits of the government's so-called 'affordable health care' has forced insurers to raise premiums by 34% in 2018. -GEG
While Democrats have continuously griped about how Republican measures to slowly dismantle the Affordable Care Act (otherwise known as Obamacare) will sink their chances of cementing control of Congress in this year's midterm elections, the US government is now estimating that it will spend $700 billion on subsidies this year to help provide Americans under the age of 65 with health insurance through their jobs or in government-sponsored health programs, according to a report from the nonpartisan Congressional Budget Office.
The subsidies come from four main categories:
Roughly $300 billion is federal spending on programs like Medicaid and the Children's Health Insurance Program, which typically help insure low-income people.