Former President Bill Clinton spoke at a recent fundraiser earlier this week and warned of the dangers this country faced if the Supreme Court rules against President Obama’s Health Care Law. Given his special abilities to explain complex matters to a two-year old, Mr. Clinton broke it down like this”
If the Supreme Court decides to invalidate the individual mandate in the Affordable Care Act, there will be consequences, Clinton said, which he claims aren’t being reported, and which he spelled out:
• Changing the health-care delivery system has already produced two years in a row of 4 percent inflation in health-care costs. This is the first time in 50 years that health-care costs have gone up so little. Killing the Affordable Care Act would let inflation loose again.
• Some 2.6 million people ages 21 to 26, who now have insurance coverage for the first time because they can be carried under their parents’ policy, would lose it.
• $1.3 billion dollars in insurance refunds have already been paid to businesses and individuals because now the law says 85 percent of your premium has to go to health care and not to profits and promotion. (California hasn’t reported yet, but will likely increase that figure to more than $1.5 billion.) Refunds would shrink.
• If Republicans succeed in persuading the Supreme Court to repeal the individual mandate, somewhere between 12 million and 16 million Americans will be unable to get health insurance because of preexisting conditions.
The Daily Beast also reports that “Clinton predicted that if the law is declared unconstitutional, Republicans will suffer a backlash when millions of Americans calculate what they have lost. Before the Affordable Care Act passed, two thirds of all the applications for bankruptcy were because of health-care emergencies, a consequence likely to return if health care inflation again rises precipitously.”
“Before Mitt Romney as governor signed the individual mandate, Massachusetts had the highest health-care costs in America. Today, that state is seventh, because inflation in health-care costs in that state have been much lower than in the country as a whole. Why? The mandate prevents insurance companies from shifting their promotional costs to consumers, Clinton said.”
The Supreme Court will issue its decision on Health Care on Thursday.