Dr. Blumenthal, president of the Commonwealth Fund, argues the loss of coverage will not only stem from Americans who elect to leave the markets because of the mandate’s repeal but also from rising premiums that will price out millions of people. The increased deficit brought on by the tax bill will also encourage legislators to look for spending cuts elsewhere in the federal budget, including Medicare and Medicaid, according to Dr. Blumenthal.
The repercussions of the bill’s healthcare provisions will have an impact that reaches far beyond the healthcare industry, Dr. Blumenthal adds.
“Fewer insured Americans and less-adequate public programs will mean fewer doctor visits, hospital stays, and drugs and devices sold. These cutbacks will ricochet through the economy, just like cutbacks in defense or infrastructure spending,” Dr. Blumenthal writes. “Healthcare companies will employ fewer workers, who will buy fewer cars, homes, refrigerators and vacations. Many will also lose health insurance. From a healthcare standpoint, the new tax bill is all about de-stimulus.“
More articles on leadership and management:
AHA CEO Richard Pollack: Why hospital M&A ultimately benefits patients
Rhode Island grants two of Prime Healthcare’s facilities nonprofit status
ACA approval hits all-time high
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.