598.) President Obama promised us that his Health Care law would save the people of our nation. Healthcare costs would stabilize, the poor would be insured, and the world would join hands and sing non-secular songs. Well, the results of this great bill that the American People did not want, are not what President Obama had promised us. In 2008 healthcare premiums for an average family rose 5% to $12,680, in 2009 they rose 5%, in 2010 they only rose by 3%. Now some might get excited and say look the number went down, unfortunatly the majority of the law did not take affect until late in 2010, so its affects were not felt until this year. In 2011, premiums rose by 9%, so that it costs over $15,000 per family.(data comes from the Kaiser Family Foundation). Note the KFF says that only 2% of that gain is related to the affects of Obamacare. Even if the law is responsible for costs going up only 2%, it is still a failure. If that sounds bad, worse news looms on the horizon. In 2010, prior to the mandates taking affect many insurers warned that Obamacare could cause some premiums for some consumers to go up by as much as 30%. President Obama was quick to put down these claims as insurers puting out misimformation. Well if that is the case, there are a few more people in need of chastising.
a.) MIT Health Economist Johnathan Gruber, who says that in 2014 when most of the President Obama’s waivers expire 6 out of 10 consumers in Wisconsin’s individual market will see their premiums go up by an average of 31%.
b.) Actuarial Consulting Firm Milliman Inc. said that in Ohio the situation is much worse, people in the invidiual market will see their premiums go up by 55 to 88%. A health young man could see his premiums go up by as much as 130 percent. Even small business is hit, some small businesses could see their premiums go up 150%.
This doesn’t sound like good news, well I am sorry to say there is still worse news to come. A study from University of Minnesota economists Jean M. Abraham and Pinar Karaca-Mandic, estimated that what is known as the “medical loss ratio” rule could cause over 155,000 Americans who have costly medical conditions to be removed from their individual market coverage.
None of these things sound like a good thing, so thank you President Obama…. wait… I mean no thanks.