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New Obamacare Surprise?

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  • Description

    Former CBO Director Douglas Holtz-Eakin on new details about the health-care policy.

  • Duration 4:04
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All but first tonight our top story.

Obama -- -- latest surprise you hit a new fees that the -- employers Doug Holtz Aiken.

President the American action forum and former CBO director he joins me now.

That it's always great to talk CEO I think -- shocked to hear about this -- 63 bucks nobody knew what was coming 63 per employee over a company like Boeing.

They're going to be paying ten million dollars just minutes -- -- what does more and why did we ever hear about this before.

Well I mean that's certainly the latter parts easier -- once again we're finding out that you you have to read the bill to know what's in it no one read -- was passed and there's quite literally a trillion dollars worth of taxes in the Affordable Care Act it's under appreciated as a big tax increase on the economy and that's gonna turn into big job growth impact suspect -- to big.

Cost of insurance -- impacts and that's what this -- for -- there are two I'd get the start up of the new.

Exchanges and insurance subsidies in the affordable -- going.

And to make sure that the high cost patients are covered in the when they get into their insurance products.

You know it's interesting because there are a lot of people asking for exclusions are -- and -- surprises.

That the union representing auto workers is one of the first in line saying we don't want to pay that's going advantage before they're also asking for exclusions.

Isn't -- -- case where virtually anybody with more than a thousand employees is going to be knocking on the White House door asking for special consideration.

-- Of course you're having this is a cost of doing business it's gonna be substantial and in this case unanticipated costs.

We saw this with all the regulations that have been put in place to.

Took to make -- obamacare ago.

One by one they show up one by one people ask for an exclusion because they're costly that the change the way they do business change the insurance products they offer.

And the -- going to be no different ten.

-- -- we saw medical device B start this year we're gonna see a health insurers and eastern next year.

This is a movie you will see again and again as the years pass.

Well this money supposedly is gonna help people that have been promised they can't -- denied coverage because the pre existing condition.

That's what this is sports and the companies that are being levied -- -- are saying these are not people that we necessarily aren't covering.

You're having its bear the cost for the whole system did their argument -- -- Thought it does and and remember that a lot of the kinds of fees that were put into the Affordable Care Act.

Were advertised as.

Fees in exchange for benefits of the health insurers tax opinion tax was.

In exchange for the business supposedly they were going to get the device tax you -- -- -- more devices but.

-- dig into that you find out that.

Many of these small device manufacturers -- gonna see the business changed at all because of the Affordable Care Act the same is true for insurers in some cases and in this case.

If it is very unlikely that you're going to find that very high cost patients who were excluded from the insurance Koppel in an employer sponsored product in the he's not gonna match that at all.

Our I have to get -- to an economic question among your many talents here also an economist.

Today we get a big disappointment with the consumer confidence numbers really surprised people not expect he was expecting a better result.

It drove the stock market down what's going on here.

I'm concerned about that if you remember back in the fourth quarter of 2012.

Consumer confidence was relatively high business confidence is very low.

Thought that that divergence can't persist and my hope was business profits would come up.

Match consumer confidence we get a sustained rally.

This is trouble we saw consumer confidence -- on the fiscal cliff.

Now we've seen another round.

Tax increases and threats that more tax increases in the democratic budget.

Confidence falls again.

I think this is sign that consumers are realistic about this recovery which is pretty -- and and that risk of bad policy at a Washington.

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