Obamacare: Premium Increases by State

Remember that presidential promise to “cut the cost of a typical family’s premium by up to $2,500 a year”? As 2014 and full implementation of Obamacare get closer, it is clear that won’t be the case.

Obamacare’s insurance regulations will cause insurance premiums to skyrocket, particularly in the individual and small group markets.

Source: “The Price of Obamacare’s Broken Promises,” report by the House Committee on Energy and Commerce Majority Staff, Senate Committee on Finance Minority Staff, and Senate Committee on Health, Education, Labor & Pensions Minority Staff, March 2013.

 

Obamacare advocates attempt to refute these premium increases by pointing to Obamacare’s generous subsidy scheme. But Hoover Institution’s Daniel Kessler points out, “This argument is misleading. It fails to consider that the money for the subsidies has to come from somewhere. Although debt-financed transfer payments may make insurance look cheaper, they do not change its true social cost.”

 

Read More Here: http://blog.heritage.org/2013/03/18/obamacare-projected-premium-increases-by-state/