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$4.7 Billion In Subsidies For Obamacare So Far

Sara Newman |
June 18, 2014 | 12:41 p.m. PDT

Deputy Editor

President Obama with Secretary Burwell (Twitpic/CalFamHealth
President Obama with Secretary Burwell (Twitpic/CalFamHealth
8 million Americans are currently receiving health coverage under the Affordable Care Act, and of those 8 million, many are paying less than $100 per month.

But the difference has to come from somewhere. 

A new federal report suggests that tax-funded subsidies may end up drastically increasing the overall cost of universal healthcare.

READ MORE: Obamacare Enrollment Reaches 5 Million 

With almost 90 percent of Americans covered by the Affordable Care Act receiving reduced premiums, current estimates predict that the federal government is on track to spend at least $11 billion in subsidies.

“What we’re finding is the marketplace is working. Consumers have more choices, and they’re paying less for their premiums,” Health and Human Services Secretary Sylvia Burwell said in a statement. 

Yet, people are beginning to wonder whether such significant subsidies are economically sustainable no matter how positive the health-related results are. 

Read the full story here

Contact Deputy Editor Sara Newman here. Follow her on Twitter here



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