Thursday, May 5, 2016

The Coming Sticker Shock in Obamacare Land

Today's Wall Street Journal documents the dramatic and historic increases in health care costs that have been created by Obamacare.  Two numbers for 2016 are now on the table.

Providence Health Plan -- the largest in Oregon is seeking an average increase of 29.6% (that's just a one year increase!).

In Virginia, Anthem is asking for 15.8 percent, year over year.

As the WSJ notes, "a number of insurers are likely to seek significant (premium) hikes as they aim to cover costs that have continued to outstrip their estimates.  The companies .... have detailed the challenges in their Affordable Care Act business in a round of earnings releases...."

These are the same insurance companies that supported the passage of Obamacare in the first place, licking their chops at a government mandated host of new clients.  Too bad.  The problems: (i) those with the worst health condition dominated the new sign ups; (ii) the rules and regulations of Obamacare added a plethora of new, often completely unnecessary, costs to the insurance plans that could be legally sold (and purchased).

So, what is the Obama crowd's answer to this surge in premiums.  It runs like this:  "Well, the taxpayer will pony up to cover, through subsidies, a lot of the premium increase."

Some answer!  Regardless of who pays, the fact is: Obamacare has dramatically increased the cost of health insurance and health care.  Current increases are way, way bigger than the increases that incurred on annnual basis before Obamacare became the law of the land.

So, higher costs, less health care -- an America with a declining ability to provide health care for its citizenry.  That's what big government gets you.  This is Barrack Obama's legacy and Hillary Clinton's game plan.

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