In the House Budget Committee, the Experts Expose the Fiscal Consequences of Obamacare

Kathryn Nix / January 27, 2011

On Wednesday, the House Budget Committee convened a hearing to explore the fiscal consequences of Obamacare. Lawmakers heard from Richard Foster, Chief Actuary at the Centers for Medicare and Medicaid Services (CMS); James Capretta, a fellow at the Ethics and Public Policy Center; and Dennis Smith, Secretary of the Wisconsin Department of Health Services.

Foster’s remarks echoed the findings of the CMS Actuary’s report released last April. Of the promise that “if you like your current insurance, you can keep it,” Foster claimed that this would be “not true in all cases.” His analysis shows that 7 million Medicare Advantage beneficiaries will have to seek other coverage, and Americans with all types of coverage could be subject to displacement from their current plans. (more…)