With Election Over, Obama Announces Medicare Cuts to Fund Obamacare

Dr. Susan Berry
Big Government
20 Feb 2013

During the 2012 election campaign, Democrats denied that ObamaCare made $716 billion in cuts to Medicare in order to provide funding toward $1.9 trillion in new entitlement spending over the next ten years.

In an announcement on Friday, however, the Obama administration revealed that it would be significantly reducing funding for Medicare, a move that one health insurance analyst said “would turn almost every plan in the industry unprofitable.”

Health insurance stocks tumbled following the announcement that a big chunk of the Medicare cuts would come from the popular Medicare Advantage program, a market-oriented system in which participants can choose coverage by a private company that contracts with Medicare to provide all Part A and Part B benefits…

The article continues, with video, at Big Government.

CAJ note: Here are some of our articles about the Romney-Ryan campaign and others in 2012 warning about these cuts to Medicare and Medicare Advantage.

Update: Dem Senators look for someone to blame for Obamacare

Update 2: Feds Increase Costs To High-Risk Pool Members

The Obama administration has increased costs for about 38,000 people enrolled in high-risk insurance pools run under the federal health law to prevent the program from running out of money.

The pools, which started in 2010, will expire at the end of the year when new rules prohibiting insurers from denying coverage to people with pre-existing illnesses take effect. The program was funded with $5 billion…

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