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Federal Reserve Bank of Dallas says healthcare reform likely won't curb costs

Posted On Tue, March 22, 2011

President Barack Obama has said his healthcare reform will expand insurance coverage while at the same time lowering the deficit. But a new report is indicating the costs of the program may be more than the president bargained for.

The report was issued by the Federal Reserve Bank of Dallas and it reviewed the contents of the bill to see what changes are or aren't in store.

The report found that healthcare coverage will be broadened because more people will be eligible to receive Medicaid, health insurance exchanges will be created and more families and businesses will qualify for federal subsidies.

But the notion that healthcare reform will reduce government debt is unlikely because, according to the report, it assumes too many things.

For instance, the legislation assumes physicians will be reimbursed less from Medicare, but the report found that legislators haven't approved this plan because doctors have warned that reducing pay will lengthen the amount of time it takes before patients can see their doctors.

The supposed high cost of the Patient Protection and Affordable Care Act, which was signed into law one year ago this week, is one of the chief complaints opponents cite in calling it a flawed bill.

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