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CBO Economic Effects of New Healthcare

CBO Economic Effects of New Healthcare

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Published by Milton Recht
CBO Presentation on Economic Effects of New Health Care Legislation
CBO Presentation on Economic Effects of New Health Care Legislation

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Published by: Milton Recht on Oct 22, 2010
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10/22/2010

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Congressional Budget OfficePresentation at the Schaeffer Centerof the University of Southern California
Economic Effectsof the March Health Legislation
October 22, 2010Douglas W. ElmendorfDirector
 
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The Patient Protection and Affordable Care Act, andthe Health Care and Education Reconciliation Act:
 –
Expansion of insurance coverage.
 –
Changes in Medicare.
 –
Revenue increases.
The economic effects of the legislation can be dividedinto two pieces:
 –
The effects on the five-sixths of the economyoutside the health sector.
 –
The effects on the health sector itself.
March Legislation
 
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The most significant effects will be through the labormarket
but those effects will probably be small.
The legislation will affect some individuals’ decisions
about whether and how much to work, and some
employers’ decisions about hiring workers. We
estimated that the legislation, on net, will reduce theamount of labor used in the economy by roughly half apercent, primarily by reducing the amount of labor thatworkers choose to supply.
Effects on the Economy Outside the Health Sector

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