ObamaCare is Causing Insurance Premiums to go up

Do you remember how the so called 'Affordable' Care Act was pitched to the American people? This President and his administration assured us that the new law would pay for itself, would reduce the deficit, and would lower health care costs. All of these turned out to be false. 

Many people, like myself, knew that this was 'too good to be true' before it was even signed into law. Remember the old saying, 'If it sounds too good to be true, it probably us?'  ObamaCare was one of those things. Since the law was passed and is now being implemented,  various studies have shown that ObamaCare is in fact causing insurance premiums to go up:

Under the Affordable Care Act, medical claim costs, the largest driver of health insurance premiums, are expected to increase by 32 percent for individuals, a new study by the Society of Actuaries finds.

Though some states might see declines in cost-per-person medical claims, the report found “the overwhelming majority will see double-digit increases in their individual health insurance markets, where people purchase coverage directly from insurers,” the Associated Press reports.

California’s claim costs are estimated to increase by 62 percent by 2017. In Ohio, it’s expected to be 80 percent. Florida costs are expected to grow 20 percent and in Maryland, 67 percent. The higher claim costs are related to the increase in sick people expected to join the pool, according to the report.

For a while, the Obama Administration was flatly denying that the new legislation would negatively impact insurance premiums but recently, even the Secretary of HHS Kathleen Sebelius has admitted that individual-insurance premiums are going to go up as a direct result of ObamaCare

Some people purchasing new insurance policies for themselves this fall could see premiums rise because of requirements in the health-care law, Health and Human Services Secretary Kathleen Sebelius told reporters Tuesday.

Ms. Sebelius’s remarks come weeks before insurers are expected to begin releasing rates for plans that start on Jan. 1, 2014, when key provisions of the health law kick in. Premiums have been a sensitive subject for the Obama administration, which is counting on elements in the health law designed to increase competition among insurers to keep rates in check. The administration has pointed to subsidies that will be available for many lower-income Americans to help them with the cost of coverage.

The secretary’s remarks are among the first direct statements from federal officials that people who have skimpy health plans right now could face higher premiums for plans that are more generous. …

“These folks will be moving into a really fully insured product for the first time, and so there may be a higher cost associated with getting into that market,” she said. “But we feel pretty strongly that with subsidies available to a lot of that population that they are really going to see much better benefit for the money that they’re spending.”

A thousand years from now they will call this an example of national suicide. For now, enjoy your 'affordable' healthcare.