CBO Overstates Public Marketplace Enrollment
Due to the rocky start, the public marketplaces enrolled 6 million members into commercial plans, a full one million members fewer than originally projected by the Congressional Budget Office (CBO). This miscalculation is going to save the federal government a bit of money. The lower enrollment has led to 1.5% less in public marketplace subsidies than originally budgeted. Analysts now estimate the cost of PPACA to be $1.335 trillion over a ten year period – 0.7% lower than originally stated in May of 2013. These results have prompted the CBO to cut estimates of 2014 enrollment by a million members as well as Medicaid and Children’s Health Insurance Program (CHIP) enrollment. Further, analysts project the number of uninsured Americans to be more like 13 million instead of the 14 million originally projected. These shifts will cause some re-examination of the funding of PPACA, although analysts are not comfortable making major alterations at this time.