Chart Explains Winners And Losers Under Obamacare
TPM has the chart that explains it all.
University of Michigan professor and senior Brookings fellow Justin Wolfers on Thursday created a chart depicting the “winners and losers” under the Affordable Care Act, sourced to a Ryan Lizza article that used estimates from M.I.T. economist Jon Gruber, a former adviser to Mitt Romney.
The chart depicts the degree to which Republicans and critics of Obamacare have amplified the media’s coverage around the relatively small percentage of Americans who have received cancellation notices for stripped-down individual market plans that failed to meet the benefit requirements of the ACA.
“We’ve decided as a society that we don’t want people to have insurance plans that expose them to more than six thousand dollars in out-of-pocket expenses,” Gruber said. Obama obviously should have known that his blanket statement about “keeping what you have” could not apply to this class of policyholders.
Gruber summarized his stats: ninety-seven per cent of Americans are either left alone or are clear winners, while three per cent are arguably losers. “We have to as a society be able to accept that,” he said. “Don’t get me wrong, that’s a shame, but no law in the history of America makes everyone better off.”