WASHINGTON - California could gain up to 100,000 jobs and $4.4 billion in economic spillover if the Supreme Court upholds President Obama's health care plan next month, according to a new report. <\/p>\n
Southern California has the most to gain, according to the Bay Area Council Economic Institute. The reform could add up to 64,000 jobs and more than $3 billion to the region's economy, three-quarters of the state's total. <\/p>\n
Had the health care law taken full effect in 2010, the report says California's economy - helped by federal and state subsidies - would have received a $6.7 billion boost from new spending on doctors, hospitals, medical device manufacturers and the hiring of additional employees \"who will then spend more money on food, clothing, and shelter, among other things.\" <\/p>\n
The boost far outweighs the economic cost of requiring more employers to pay for their workers' insurance. <\/p>\n
In addition, the report concludes that many consumers - particularly in the more affluent parts of the state - would have more disposable income as the result of lower insurance premiums. <\/p>\n
A healthier population would also take a more active part in the labor market and miss fewer days for sickness. <\/p>\n
The findings add fodder to those who argue the law will have a positive effect on the economy. <\/p>\n
Most of the debate over the Affordable Health Care Act has focused on its mandate that everyone buy insurance, and its ban on insurance companies denying <\/p>\n
The report seeks to break down the law's overall economic impact on California and suggests that it would serve as a large stimulus. The study was conducted by the Bay Area Council, a business-sponsored, public policy advocacy organization based in San Francisco. <\/p>\n
\"It is important to emphasize that the Affordable Care Act was not designed to be an economic stimulus bill and the fact that the law also will have a significant positive economic impact is a strong corollary benefit to a policy change designed to achieve other ends,\" the report says. <\/p>\n<\/p>\n
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Health care act would add jobs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" WASHINGTON - California could gain up to 100,000 jobs and $4.4 billion in economic spillover if the Supreme Court upholds President Obama's health care plan next month, according to a new report. Southern California has the most to gain, according to the Bay Area Council Economic Institute. Continue reading