New report on Obamacare claims that premiums will go up 100% to 400%

From the Washington Examiner.

Excerpt:

Internal cost estimates from 17 of the nation’s largest insurance companies indicate that health insurance premiums will grow an average of 100 percent under Obamacare, and that some will soar more than 400 percent, crushing the administration’s goal of affordability.

New regulations, policies, taxes, fees and mandates are the reason for the unexpected “rate shock,” according to the House Energy and Commerce Committee, which released a report Monday based on internal documents provided by the insurance companies. The 17 companies include Aetna, Blue Cross Blue Shield and Kaiser Foundation.

The report found that individuals will face “premium increases of nearly 100 percent on average, with potential highs eclipsing 400 percent. Meanwhile, small businesses can expect average premium increases in the small group market of up to 50 percent, with potential highs over 100 percent.”

[…]It concluded: “Despite promises that the law will lower costs, [Obamacare] will in fact cause the premiums of many Americans to spike substantially. The broken promises are numerous, and the empirical data reveal that many Americans, from recent college graduates to older adults, will not be able to afford the law’s higher costs.”

In other news, Congresswoman Michele Bachmann led the Republican-controlled House of Representatives to pass a bill to repeal Obamacare. However, the bill is not expected to pass in the Democrat-controlled Senate. Elections matter.

2 thoughts on “New report on Obamacare claims that premiums will go up 100% to 400%”

  1. Some folks have already seen a doubling or worse of premiums in the last 3 years. This, as well as strict government control, will lead to extensive rationing. (My liberal friends like to say that there was already rationing before ObamaDoesn’tCare, but they ain’t seen nothing yet!) The Affordable Care Act is not ‘affordable,’ does not ‘care’ about those at the two age extremes (the young and old will be euthanized at alarming rates), but it is an ‘act’ – one of the corrupted worldview that liberals maintain in spite of overwhelming evidence to the contrary: government is their savior.

    Like

  2. Pingback: Free Canuckistan!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s