A report last week from President Obama's own health analyst confirms what millions of Americans have been saying for more than a year. The health care legislation rammed into law last month is a fiscal disaster that will raise health costs for all Americans while hurting seniors by cutting Medicare benefits.
The report released by the Centers for Medicare and Medicaid Services' (CMS) chief actuary concludes that the new law "will do little to rein in spiraling costs and government spending." It also found that the law hurts seniors by cutting billions from critical Medicare services. As most Americans suspected, the report confirmed that the law raises taxes, increases health insurance premiums, and makes health care more expensive for millions of Americans.
The CMS report also concluded that the health care law:
Causes 50 percent of seniors to lose their Medicare Advantage plans (that includes more than 115,000 Michigan seniors)
Cuts Medicare by $575 billion, putting at risk seniors' access to doctors and other medical caregivers
Imposes $87 billion in additional taxes on employers
Levies more than $33 billion in additional taxes on individuals
Drives health care costs up, not down, by $311 billion over the next 10 years
Because of my concerns with this massive new health care law, I have demanded hearings in Congress to investigate why the plan raises health costs and hurts our nation's seniors. I have also written a letter to Democrat leaders in the House of Representatives requesting that CMS officials testify before the Energy and Commerce Committee so we can discuss the Administration report in detail with the panel. It is crucial for members of Congress and the American people to understand the full and true impact of this dangerous overhaul of our health care system so we can begin to fix it in a way that works.