Tag Archives: Health Insurance

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Health insurance premiums up $3,000 since Obama was elected

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From Investors Business Daily.

Excerpt:

During his first run for president, Barack Obama made one very specific promise to voters: He would cut health insurance premiums for families by $2,500, and do so in his first term.

But it turns out that family premiums have increased by more than $3,000 since Obama’s vow, according to the latest annual Kaiser Family Foundation employee health benefits survey.

Premiums for employer-provided family coverage rose $3,065 — 24% — from 2008 to 2012, the Kaiser survey found. Even if you start counting in 2009, premiums have climbed $2,370.

What’s more, premiums climbed faster in Obama’s four years than they did in the previous four under President Bush, the survey data show.

There’s no question about what Obama was promising the country, since he repeated it constantly during his 2008 campaign.

In a debate with Sen. John McCain, for example, Obama said “the only thing we’re going to try to do is lower costs so that those cost savings are passed onto you. And we estimate we can cut the average family’s premium by about $2,500 per year.”

At a campaign stop in Columbus, Ohio, in February 2008, Obama promised that “We are going to work with you to lower your premiums by $2,500. We will not wait 20 years from now to do it, or 10 years from now to do it. We will do it by the end of my first term as president.”

But are Obama’s policies responsible for the increase?

the health reform law Obama signed in March 2010 has pushed up insurance costs.

In 2011, premiums spiked 9.5%, and many in the industry blame ObamaCare for at least part of it. Premiums climbed another 4.5% in 2012, Kaiser found.

And ObamaCare will continue to fuel health premium inflation.

First, the law piles on new coverage mandates. It requires insurance companies to provide 100% coverage for various types of preventive care, bans lifetime coverage limits, extends parents’ coverage to offspring up to 26 years old, and requires plans to meet certain “medical loss ratios.” Coming up are rules on “essential standard benefits,” limits on deductibles, bans on annual spending caps, and much more.

The experience with state mandates show that they only tend to grow over time, and get more expensive. The Council for Affordable Health Insurance found more than 2,200 state benefit mandates, which add from 10% to 50% to the cost of coverage.

“One of the biggest cost drivers in our health care system is the steady proliferation of federal and state-based coverage mandates,” noted CAHI’s Victoria Craig Bunce.

Meanwhile, ObamaCare’s insurance reforms — guaranteed issue and community rating — will likely raise premiums, too.

More regulation of health care companies means higher premiums. The more coverages that are mandatory, the higher premiums will go. If abortions have to be covered, then premiums go up.

Here are a few articles that I have been using lately to inform people about the problems with Obamacare:

It’s important to understand that people who oppose this law don’t oppose because we are just being contrary. Obama’s health care plan has the goal of destroying private medicine and putting everyone into a single-payer system like Canada’s. It’s not good for us to be waiting in line for MRIs for months and months, or even years and years. NO.

News

Has the passage of Obamacare reduced health insurance premiums?

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Investors Business Daily does the math.

Excerpt:

The cost of an average family premium shot up 9.5% in 2011 — the highest rate in seven years and three times the rate of overall inflation, finds a major new survey of employer plans by Kaiser Family Foundation.

Just before Obama signed his health overhaul, he vowed it would “bring down the cost of health care for families, for businesses and for the federal government.” In December, he told CBS’ “60 Minutes” he was “putting in place a system that’s going to lower health care costs.”

In fact, there’s evidence ObamaCare is fanning medical inflation.

Kaiser attributes the premium spike to “changes from the new health reform law.” The 200-page study explains: “Significant percentages of firms made changes in their preventive care benefits and enrolled adult children in their benefits plans in response to provisions in the new health reform law.”

In fact, 31% of covered workers are in a plan where the employer reported adding preventive services to comply with ObamaCare. And some 2.3 million adult children “were enrolled in their parent’s employer-sponsored plan due to the Affordable Care Act,” Kaiser said.

Sen. Ron Johnson, R-Wis., notes that Obama, as a candidate, promised he’d slash family premiums by $2,500 a year by the end of his first term. That was in 2008, when health care coverage cost the average employer and American family $12,680 in annual premiums. Now it’s $15,073, nearly 20% higher. That means Obama has broken his promise by a whopping $4,893.

Costs are projected to simply rise as ObamaCare fully goes into effect. A recent McKinsey & Co. study found that 30% of employers will stop offering benefits after 2014, since “the penalty for not offering coverage is significantly below” the costs of the new mandates. This will make millions more individuals eligible for government subsidies under ObamaCare.

Not everything that Obama says while he is reading from a teleprompter is necessarily true.

Podcasts

Another Life Training Institute podcast is here

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Here’s the link.

Details:

Jay, Scott, and Rich are back to take on the most recent news in the bioethics community. This week we address the Obama administration’s mandate for religious organizations to include contraceptive and abortifacient coverage in their health insurance. Is this just a “Catholic Issue”, or is there significant ramifications for those of all faiths.

The MP3 file is here.

I really liked this one. It was just full of substance and boldness.