Of the 3.4 million enrollees that CBO projects would be added to the individual market, 2.0 million already had coverage.ĬBO projects that the budgetary cost of making the subsidies permanent would total $210 billion over a decade. CBO projects that the expanded subsidies would lead to about 2.8 million more people being enrolled in the individual market, with 3.4 million more exchange enrollees and a decline in unsubsidized individual market enrollment of 0.6 million. Since most of the proposed spending would be directed at people who already have coverage, this proposal would not significantly increase the number of people with insurance. Moreover, people have less incentive to obtain value from their purchasing decisions when the government is footing the bill, or a large part of it.
Such spending is inefficient for several reasons, including that government spending must be financed with taxes, and the imposition of taxes has economic costs that far exceed the amount of actual spending. Nearly 75% of the new spending would simply substitute government spending for private spending. Most of the benefit would go to people who already have coverage 3) Men would receive unfair benefit relative to women.Ĥ) The subsidies would go directly to health insurance companies.ĥ) Poor subsidy design would lead to increased premiums, prices, and wasteful spendingĦ) Employers, particularly small employers, would drop coverage.ħ) The budgetary cost would be substantial.
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