Health insurance

Beware of government forecast when it comes to healthcare. In 1965 when Medicare started the estimate cost in thirty years was set at $9 billion dollars. If the cost had risen as inflation rose the cost in 1995 would have been $45 billion but in fact it was $90 billion. Between 2014 when Obamacare started to pay out until 2024 the inflation rate was 2.9% but Obamacare increased by 11.6%. Recall that Obamacare started collecting premiums in 2010 but did not start paying for treatments until 2014. The first ten years cost were estimated at $940 billion and this was kept below one trillion by only paying benefits for 6 of the first ten years. The government will use various methods to keep initial cost down, in order to pass the legislation but later the cost will rise much faster than predicted, knowing that once a benefit becomes an entitlement it is almost impossible to end.