Yes, Obamacare has raised premiums, caused people to lose their health coverage, raised taxes, and more. But on January 1, Obamacare started digging in for the long haul: putting down the deep roots of entitlement programs.
Entitlements—like the big three of Social Security, Medicare, and Medicaid—are the biggest causes of America’s spending and debt crisis. And Obamacare creates a new entitlement program while expanding another.
Obamacare created insurance exchanges to sell and subsidize government-approved health care plans. Most of those who attain coverage through the exchanges will have their costs partially subsidized by federal taxpayers.
By 2023, the Congressional Budget Office (CBO) projects that 24 million people will obtain coverage in the exchanges, 19 million of whom are expected to receive subsidies. CBO estimates that together, the subsidies will cost taxpayers nearly $1.1 trillion from 2014-2023