Waste of the Day: Expanded Obamacare Coverage Could Cost $128 Billion More Than Expected
This story originally was published by Real Clear Wire
By Adam Andrzejewski
Real Clear Wire
Topline: An expansion of Affordable Care Act subsidies was supposed to cost $64 billion for three years. But Obamacare plans are now so cheap that demand has skyrocketed, and the Wall Street Journal estimates that the actual price tag will be $192 billion or more.
Key facts: President Joe Biden passed the American Rescue Plan Act in 2021 to address the financial impact of Covid-19. The law temporarily extended the eligibility requirements of the Affordable Care Act, allowing those living at more than 400% above the poverty level to purchase health insurance with a discount from the federal government.
