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FBN’s Lou Dobbs breaks down the Administration’s math behind its estimated costs of the health-care law.
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-- the law and the mathematics the Obama care individual mandate.
Becoming somewhat clearer tonight.
First let's listen to justice Samuel Alito suggesting that if the individual mandate were to be upheld.
The -- could also force Americans to buy funeral insurance.
Let's does that.
You and I walked around downtown Washington at lunch hour and we found a couple of healthy young people and we stopped and we said you know what you're doing.
You -- financing your burial service right now.
Because eventually gonna dying and somebody's gonna have to pay for it if you don't have burial insurance -- you haven't saved money for it you're gonna shift the cost.
To somebody else.
And this is solicitor general problem Burrell -- our during the president's case desperately trying to explain the economics.
Of obamacare.
One of the economic effects congress is addressing.
Is that the there'd -- many billions of dollars of uncompensated costs.
Or transfer directly to other market participants transfer directly to other market participants because.
Health care providers.
Charge -- Higher rates -- in order to cover the cost of uncompensated care and insurance companies reflect those higher rates.
In higher premiums which congress found translates to a thousand dollars per family.
-- you heard Iraq translates to a thousand dollars -- scrambling higher premiums because folks aren't being insured.
The Congressional Budget Office estimates that the average premium for a single insurance policy in the non group market.
Would be roughly 5800 dollars from 2016.
And and that's predator.
That's quite a number so let's put that right over here.
5800 dollars.
2016.
And they also estimate that.
How healthy young individual targeted by the individual mandate.
On average consumes just 854.
Dollars and health services each year 854.
Dollars.
Each year.
For -- helping individual who's not in the program so that works out to a some city -- of stay with me -- -- 4946.
Dollars.
-- -- On the part of the healthy young individual.
Now let's go back to -- is assertion that is namely 1000 dollars per family.
Paying a penalty if you will.
Because of the millions of uninsured Americans for each one of them a thousand dollars.
So how many uninsured Americans will be insured by obamacare.
Or that number is.
Exactly.
So they say.
Thirty.
Two.
Million.
Now how we how to we've worked those numbers together.
Well 32 million times a thousand is 32.
Billion.
Dollars.
Per -- Now over ten years ago this is a -- Washington -- operate if you're doing over ten years so what does that amount to.
That amounts to over ten years 320 billion dollars.
You with me 320.
Billion.
Dollars.
Now.
Here's while Obama care costs.
One point seven.
Four.
Trillion.
If we were to give.
A thousand dollars per year to every on them on insured.
American.
The total cost would be.
320 billion dollars over a ten year period vs the one point seven.
Sexually one point 79.
Trillion dollars.
We could save one.
Just under one and a half.
Trillion dollars.
That's what came out of today's him.
Now they're arguing over the constitutionality.
Of the individual mandate they're arguing over the legal foundation.
But when I listen to justice Elena Kagan when I listen to as the solicitor general.
Make their arguments with this mathematics.
What I didn't hear any of them do was come up with this -- -- so we thought we'd bring it to you.
32 million uninsured Americans today will be insured as a result of obamacare.
But if you take that 1000 dollar penalty to families.
That they're paying extra because other folks aren't insured themselves.
We can.
Solve the problem straightforwardly mathematically directly.
With 320 billion dollars over ten years how about that.
It works for me now -- only question is of course -- What do they do with the individual mandate.
And here's the other -- You can't I apparently I.
-- loggers I didn't know this but apparently the Supreme Court can't rule on the wisdom in the intelligence that the United States congress and the president.
I personally think.
That that would eliminate if they cut.
Although the questions.
About obamacare in its entire.
That's our revelatory mathematics.
Within obamacare before the -- of.
