Pension, Health Insurance Costs Stand To Cripple Hawaii's Financial Future
by Keli’i Akina PhD, President Grassroot Institute, Forbes, August 30, 2017 (excerpt)
Opponents of the federal Affordable Care Act (ACA) have said for years that the program is simply unsustainable, that the federal government will not be able to afford it in the long term. The same is true for Hawaii.
Increased health insurance costs stand to cripple Hawaii’s financial future , particularly because they are integrally linked to increases in the state’s already considerable unfunded pension liabilities....
If a 1% increase in health care costs equals a $2 billion increase in unfunded liabilities, where will Hawaii be if we cannot get health care costs under control? There may come a point when the state will have to choose between restructuring its commitments to its public employee unions or bankruptcy....
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