ColoradoCare could come up billions of dollars short, independent analysis finds

[Theo520]

ColoradoCare could come up billions of dollars short, independent analysis finds
Increasing health care costs could test ballot measure for universal health care

The Colorado ballot initiative that would create a universal health care system in the state could come up nearly $8 billion short of its annual revenue needs by the 10th year of the program, according to a new analysis released Monday.

According to the report, put out by the independent Colorado Health Institute, the system would come close to breaking even in the first year and would succeed in reducing total health care spending in the state by billions of dollars over its first 10 years compared to the status quo. Those savings would come from money that currently goes to administrative costs and insurance company profits, the report finds.

But the analysis concludes the system — which would be known as ColoradoCare — would fall deeper and deeper into the red as the cost of health care climbs over the next decade.

The only way to make up for that deficit would be to raise taxes, cut benefits or reduce the amount paid to doctors, the analysis argues.

“We see ColoradoCare as achieving its short-term goals,” said Michele Lueck, the president and CEO of the Colorado Health Institute. She added, “Our doubts really come in in terms of the long-term viability.”
. . .

 

[ChurchSoldier]

That works out to a shortfall of $1500 per person or $6000 for family of four.

The cost PER PERSON would be $11,600 according to the article $46,400 per family. Those number calculated using 64 billion cost divided by the current population of 5.5 million.

Not even sure what to say…

 

[ChurchSoldier]

That works out to a shortfall of $1500 per person or $6000 for family of four.

The cost PER PERSON would be $11,600 according to the article, or $46,400 per family. Those numbers calculated using 64 billion cost divided by the current population of 5.5 million.

If it makes anyone feel better, the LOW estimate in the article was just under $7,000 per person, or $28,000 a year for a family of 4.

Paid for by “payroll taxes”. In other words, those who work would actually have to pay even more than that to cover those not working. That’s presuming the current population remains the same and doesn’t fall dramatically due to cost of living issues created by the program.

The bureaucrat says " it meets our short term goals"

Not even sure what to say…

 

[Usige]

In essence my income taxes would double and there is no indication of what services would be covered. I would actually be paying more for healthcare then I already do. It also leaves the coverage up to elected bureaucrats so you will have a yoyo thing between the conservative rural areas and liberal areas like Denver and the Peoples Rebuplic of Boulder. The best part of all is it is essentially written to bypass tax laws written into our state constitution. We passed the TABOR ammendment specifically to make sure that government sloths couldn’t just tax and spend us into bankruptcy. Now let’s double the state budget and set no limits on how much our taxes grow and how those fund would be spent. I’m sure the reps from Denver-Boulder would have no issue making abortions free.

I am a native of Colorado and love living here, but I am sure there are many of us that will be looking to leave the state if this asinine constitutional ammendment is passed. I know several docs that will also be leaving the state as it impacts their practices in both payroll taxes as well as projected reimbursements. I suspect Colorado will go from one of the strongest economies in the US to one of the worst as companies and employees start to flee the state. Hmmm… wonder if Wyoming would be looking to absorb the Coloradan refuges? We could easily double the state population.