Former Alaska Gov. Sarah Palin has once more used her page on a social networking Web site to criticize the sweeping health care overhaul bill approved by the Senate Finance Committee -- claiming the legislation creates a "perfect storm" for increasing health care costs.

In a 1,000-word essay posted to her Facebook fan site late Saturday, Palin said the bill put forth by Senate Finance Committee Chairman Max Baucus "attempts to offset the costs this will impose on insurance companies by requiring everyone to purchase coverage, which in theory would expand the pool of paying policy holders."

"However, the maximum fine for those who refuse to purchase health insurance is $750. Even factoring in government subsidies, the cost of purchasing a plan is much more than $750," she continued.

Palin asserted that young people will choose not to buy coverage, as a result, and will opt to pay the fine instead.

"They'll wait until they're sick to buy health insurance, confident in the knowledge that insurance companies can't deny them coverage," wrote Palin. "Such a scenario is a perfect storm for increasing the cost of health care and creating an unsustainable mandate program."

Palin took aim at President Obama for backtracking on his campaign promise that he will not consult with health care lobbyists in his massive reform efforts.

"In January 2008, presidential candidate Obama promised not to negotiate behind closed doors with health care lobbyists," she wrote. "However, last February, after serving only a few weeks in office, President Obama met privately at the White House with health care industry executives and lobbyists."

She also blasted calls for government subsidies or a government-run insurance option, saying "Americans want health care reform because we want affordable health care."

"We don't need subsidies or a public option. We don't need a nationalized health care industry. We need to reduce health care costs," she wrote.

The critique was a sharp contrast in both content and tone to Palin's earlier criticisms, including her comments last August in which she accused the Democrats of plotting to create "death panels" that would determine end of life care for the elderly.

Click here to read the full text of the essay.