Obamacare: Another Year of Rising Prices Ahead of Us

Rising prices are only one of many problems with Obamacare. As a friend wrote about this piece in the Daily Signal:

obamacare crash burn blimp

You’re paying more, getting less, and sacrificing freedom… so that a tiny handful of people can get their “free stuff” from Daddy government (and Daddy government can have their guaranteed votes).

Obamacare, what’s not to like!?!

For politicians and the big insurance corporations there may be nothing “not to like.” But for those of us who had our health insurance wrecked, or are about to have it wrecked, there is plenty not to like. Among the many other problems listed in the Daily Signal’s article, the writer points out how much more expensive insurance became:

Health costs jumped—big time. Huge increases in deductibles in policies sold through the exchanges were a big story in Florida, Illinois and elsewhere. While the average annual deductible for employer-based coverage was a little over $1,000, the exchange deductibles nationwide normally topped $2,000.

Notwithstanding President Obama’s specific promise to lower the typical family premium cost by $2,500 annually, premium costs actually increased. D2014 data for the “individual market” shows that the average annual premiums for single and family coverage rose in the overwhelming majority of state and federal health-insurance exchanges all around the country. In eleven states, premiums for twenty-seven-year-olds have more than doubled since 2013; in thirteen states, premiums for fifty-year-olds have increased more than 50 percent. For the “group market,” the Office of the Actuary at the Centers for Medicare and Medicaid Services (CMS) estimated on February 21, 2014, that 65 percent of small firms would experience premium-rate increases, while only 35 percent were expected to have reductions. In terms of people affected, CMS estimated 11 million Americans employed by these firms would experience premium-rate increases, while about 6 million would see reductions. So much for “bending the cost curve down.”

[See also, “Obamacare Plans Make You Subsidize Abortion.”]

There will be even more of this in the coming year. For myself, just when I thought I was facing the horrors of Obamacare, I got “grandfathered” into my plan for one more year. Alas, I was hoping that somehow the Affordable Care Act would go down in flames. That hasn’t happened yet. This year, I have been informed, I will have to sign up for Obamacare-compliant insurance.

It will double my price for just a Bronze Plan.

If I go to the healthcare.gov exchange and purchase a bronze plan I might get subsidies so that my personal cost only amounts to about a fifty-percent increase in cost.

The Affordable Care Act is a wrecking ball.