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How will Obamacare affect my wallet going forward?


The Congressional Budget Office, a nonpartisan agency that serves as the federal government’s official bean counter, estimated last summer that the insurance provisions in the Affordable Care Act, as the bill is formally called, would cost taxpayers $1.25 trillion in 2012 through 2022. If you’re a taxpayer, some of that money will come from you. As for the cost to particular individuals, it’s hard to say what it will be without knowing each one’s particular circumstances or drawing conclusions that are more political than economic. One disturbing trend that has been observed in recent months, however, is that companies are cutting employees’ hours to less than 30 a week, the threshold of the requirement for medium and large employers to provide insurance coverage. If you’re one of the employees whose hours have been cut, something more likely to be true for those in lower-wage jobs, then the cost will be especially high for you.
-Conrad de Aenlle