Actuaries for Medicare and Medicaid: 14 million will lose employer-based health care coverage

Government actuaries for Medicare and Medicaid have released a bombshell report confirming almost everything Republicans said about the downside of passing Obamacre health care reform. 14 million Americans will lose employer-based health care coverage. The health care cost curve will be bent up, not down, $389 billion 10 years. 18 million Americans will be forced into Medicaid and 15% of all Medicare providing doctors will become unprofitable as a result of Obamacare's payment reductions. A separate report this week from the CBO found 4 million Americans will pay $1000 in penalties annually. Obamacare is a disaster of biblical proportions to the American health care system.

Government Releases New Numbers on Obamacare Showing Costs Will Skyrocket (video)


Hat tip Gateway Pundit.

Many Retirees to Lose Private Drug Coverage Due to Obamacare

A key tax break that kept retirees on company prescription-medication plans will mean dumping millions of seniors onto Medicare. Companies will lose large amounts of money this year and be forced to change their benefit plans.

"As a result of this legislation, including the additional tax burden, AT&T will be evaluating prospective changes to the active and retiree health care benefits offered by the company," AT&T said in a filing with the government on Friday

Caterpillar Inc. and Deere & Co. have already announced this bill will cost them $100 million and $150 million respectively.