Seven Million Will Lose Insurance Under Obama Health Law

Photo Credit: Carolyn KasterPresident Obama’s health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released Tuesday.

CBO said that this year’s tax cuts have changed the incentives for businesses and made it less attractive to pay for insurance, meaning fewer will decide to do so. Instead, they’ll choose to pay a penalty to the government, totaling $13 billion in higher fees over the next decade . . .

Overall, the new health provisions are expected to cost the government $1.165 trillion over the next decade — the same as last year’s projection

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