There are a lot of important Obamacare facts and numbers you can't afford to ignore.
Let's start with the enormity of U.S. President Barack Obama's signature healthcare bill. To date, some 2,572 pages of regulations have been written (more are expected).
More familiar numbers tied to Obamacare include 50 – the headcount at which companies must provide insurance or pay a fine ($2,000).
Now consumers have less than one month until the next round of Obamacare regulations kick in Oct. 1, with open enrollment in the online Health Insurance Marketplace (formerly called exchanges).
When looking into the facts and full impact of Obamacare, here are 15 of the most important numbers you need to know:
- $2.6 trillion: The true cost of Obamacare once fully implemented, according to the Office of the Speaker. An analysis by House Budget Committee Republicans stated the healthcare law will cost significantly more than the $90 billion originally estimated and will add $70 billion to the deficit in its first 10 years.
- $829.3 billion: Total taxes collected from Obamacare (CBO) by 2023. The ACA contains 20 new or increased taxes on American families and small businesses. Among them: the excise tax on charitable hospitals, the "black liquor" tax hike on a type of biofuel, the tax on innovator drug companies, the Blue Cross/Blue Shield tax hike, the tax on indoor tanning, the medicine cabinet tax hike that prohibits Americans from using health and flexible saving accounts to purchase nonprescription drugs, the surtax on investment income, the hike in the Medicare payroll tax, and the employer mandate tax.
- $716 billion: Medicare spending cuts made due to Obamacare (CBO) by 2022. Low-income seniors (more than 14 million) will see an estimated 7% to 8% reduction in their Medicare Advantage benefits in 2014.
- $101.7 billion: Obamacare tax on insurance providers (Joint Committee on Taxation) by 2022. Because of a new excise tax providers are subjected to, two major healthcare providers, United Healthcare and Aetna, already stopped providing coverage in some states.