CBO Cost Estimate for ObamaCare Implies Cost of $12,780 per Year per Person Insured

The Congressional Budget Office (CBO) is now estimating the 10-year cost of ObamaCare at $1.993 trillion.  This is $1.093 trillion more than Obama told us it would cost over ten years.  The CBO estimates that ObamaCare will provide health insurance coverage for about 25.5 million by 2025.  It is providing insurance now for about 7.5 million people.  If the growth in the number covered is linear over the next ten years then the average number covered per year is 16.5 million people.  Some of those people will be covered for 10 years, and some for 1 year.  So for $1.993 trillion, ObamaCare provides 156 million person years of coverage.  This comes to a cost per year of coverage of $12,780 per person, all at taxpayers expense.

Given that many of the people covered will be making large contributions to paying for their insurance themselves and given that $12,776 for a private insurance plan for one person should be a Cadillac health insurance plan, which ObamaCare plans are not, one has to wonder at the ability of government to waste our money in such titanic proportions.

And remember that some of the people forced onto ObamaCare plans could perfectly well afford to be self-insured, while others were perfectly happy with plans they completely paid for themselves until ObamaCare forced insurers to cancel the plans they could not keep.

Yes, ObamaCare is a massive train-wreck.  Most of us want to get off that train, but our brutal government is forcing us to stay on it.