The Daily Caller has a sobering article about the true costs of Obamacare.
Millions of Americans are receiving double-digit premium hikes. For many people under 30, their health insurance premiums are going up much more — by as much as 189 percent. What happened to candidate Barack Obama’s 2008 promise that every family’s health care costs would go down by $2,500 by the end of his first term? (Costs actually went up by $3,000.)
The Congressional Budget Office projects Obamacare will cost tens of billions more over the next decade than the agency projected just three years ago. Those increases were not budgeted for, and will add to massive deficits.
So much for the promise that the law “will not add one dime to the deficit.”
Millions of workers at places like Wendy’s and Olive Garden are now being preemptively reclassified as part-time, and an estimated 7 million to 20 million employees face the loss of workplace health benefits altogether.
So much for the oft-heard promise that “If you like your health care plan, you can keep your health care plan.”
[…]Seniors were assured that the new system wouldn’t affect their benefits, despite Obamacare’s $716 billion in ten-year cuts to Medicare (to help pay for the new entitlement).
That promise was broken recently, when the Medicare agency issued surprise regulations cutting Medicare even more deeply than Congress had directed — cuts that target a popular and very successful part of Medicare, one that actually features consumer choice and competition, namely, Medicare Advantage (MA).
Seniors who opt into MA enjoy greater care coordination, disease management for chronic conditions, and on-call nurses available by phone. Those extra services — which in some cases mean the difference between life and death — are now slated for the chopping-block.
Rosemarie Battaglia will be among the millions of victims of these new regulations, which beginning April 1 will effectively shave MA plan payments by about 2 percentage points. On top of prior cuts enacted in Obamacare, that spells an 8 percent cut next year — a level higher than the profit margins for these plans.
Actuarial experts at the American Action Forum predict the cuts will cause between 2 and 5 million seniors to lose their MA benefits, and that MA recipients face health care cost increases averaging $2,235 a year.
When a President makes promises about economic policy, we shouldn’t believe him unless we have reasons to believe that he understands business and economics. We had no reason to believe that Obama understood economics. And, when given the reins of the economy, he’s proven that. Instead of electing people who sound nice in speeches, we should be electing people who have shown that they know how to solve the problems we’re facing in the economy. A track record of success at creating jobs, reducing the costs of health care, improving health care quality and choice, etc. should have counted for more than rhetoric. We chose the rhetoric and now we’re getting the screws.
- New study: Obamacare will raise cost of medical claims by 32%
- Five Guys franchise owner says Obamacare will force him to raise prices
- How the new Obamacare mandates are reducing full-time employment
- How does Obamacare cause medical premiums to rise?
- Obamacare’s new tax on medical devices trickles down to hospitals and patients
- Medical premiums will continue to rise as Obamacare is implemented
- Christian business Hobby Lobby defies Obamacare abortion mandate
- When health insurance is forced to cover more, insurance premiums go up
- Obamacare in action: Denny’s to charge 5% surcharge and cut employee hours
- Papa John pizza CEO: cuts to employee hours likely, because of Obamacare
- A primer on the fiscal cliff facing us in January 2013: tax hikes and Obamacare
- Companies announce layoffs in the wake of Obama’s re-election
- Sally Pipes: how Obamacare causes doctors to quit practicing medicine
- Why do some people oppose Obamacare? What does Obamacare do?
- The full list of Obamacare tax hikes in order from largest to smallest
- California: Obamacare exchanges will raise health insurance premiums up to 25%
- Health insurance premiums up $3,000 since Obama was elected
- Report: Obamacare regulations will cost taxpayers and businesses $1.8 trillion
- CBO: Unemployment rises to 9.1% in 2013, health care spending doubles by 2022
- Obamacare subsidizes the risky behaviors of sexually active women
- Obamacare begins forcing states to cap and cut prescription drug benefits
- CBO: 20 million Americans could lose employer-provided health coverage under Obamacare