WASHINGTON — Personal health care costs rose in the 12 months ending in May at the slowest rate in the last 50 years, as spending on hospital and nursing home services declined, the White House announced Monday.
Personal consumption spending rose 1.1%, Alan Krueger, chairman of the White House Council of Economic Advisers, said. Hospital readmissions rates dropped from an average of 19% to 17.9% for Medicare patients since the passage of the 2010 health care law, Krueger said.
A series of recent government reports and industry analyses have shown a decrease in overall health care costs. In May, a Congressional Budget Office report showed a $618 billion drop in projected Medicare and Medicaid spending over the next decade. A recent study by the Department of Health and Human Services (HHS) showed that for Americans who receive health insurance through their employers, premiums rose 3% from 2011 to 2012, the lowest increase since 1996.
The law is not affecting job growth, Krueger said. Job growth in industries that have traditionally not provided health insurance for their employees, such as restaurants, was higher. Restaurant sales and employment have increased more than any other retail sales industry since the law was signed, at about 11% for employment and 17% in retail sales, and weekly hours also have grown about 3% since the law was signed.
"Data from across the economy — covering consumers, government and private employers — point to the same conclusion," Krueger said. "Health care cost growth has slowed."
It's working. The Affordable Care Act--"Obamacare"--is working.
It's already working.
Is it enough?
Heck, no, but it's helping and it's helping us, the people who need it.
Get behind this thing or get left behind.
This whole thing is exactly like FDR, back in the 30's and the creation of and Democratic support for it while the Right Wing, the Republicans and some business people were against it.
Need more proof? Here you go, another, separate article: