Romney on Recent ObamaCare Reports

On October 3, 2012 Romney said ObamaCare will cost $1 trillion (in his CBS 60 Minutes interview of September 23 he said it costs about $100 billion a year). In everything I’ve read on this I do know that none of the data considers the elimination of 62% of the bankruptcies due to medical bills, the decrease in medical costs for preventive care versus emergency care or the cost of unwanted births. Romney said the CBO (Congressional Budget Office) said 20 million will lose the insurance they now have and McKinsey & Company anticipated 30% of companies will drop their existing coverage of employees. I found several CBO reports in the last few months and couldn’t find one to support Romney’s statements. I found a June 18, 2011 Forbes article that said: previously published, high quality studies fly smack in the face of the McKinsey report findings– studies from such credible sources as the CBO, the Rand Corporation and the Urban Institute as well as the real life experience in Massachusetts which would very much disprove the results of the McKinsey study. McKinsey & Company consult and advise large corporations on how to solve business problems and properly innovate and organize their future…the McKinsey survey is little more than a company ‘pitch piece’ designed to drive customers to their door…it’s time we put the McKinsey report into proper perspective. The findings were good for business – pure and simple. In the meantime, there is a great deal of money to be made by McKinsey & Company by conducting reviews of corporate employee benefit plans. 

I did not find a recent report from McKinsey & Company but did find an article somewhat giving it to Fox News for touting any validity to the report. I also found that several Republican Governors were saying they won’t choose to opt into the insurance groups being established with ObamaCare. Even if Romney is right in that some people because of their companies having an attitude like Republican Governors lose their existing insurance companies – there will be a market or federal program that will provide the coverage they need.