#RateShock: Premiums Skyrocket, Some Could “Soar More Than 400 Percent” Under ObamaCare
How much could you (and everyone else) pay for health care in the years ahead thanks to the president’s health care law? According to the nation’s insurers, a lot more -- in the individual market an average of double what we pay now with some rates soaring by more than 400 percent. That’s what the nation’s 17 largest insurers told the House Energy & Commerce Committee. You can see the whole report here.
“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,” reported the Washington Examiner. “[S]ome will soar more than 400 percent, crushing the administration's goal of affordability.”
“The report said existing customers in the individual market can expect rate hikes of 73 percent,” wrote The Hill. “[N]ew customers’ premiums will cost 96 percent more. Small businesses could see rates climb by 50 percent, according to data from one insurer.”
Health & Human Services Secretary Sebelius herself admitted premiums will increase for Americans.
With all the new “mandates, taxes, and fees,” as well as a tower of new regulations (seriously -- a red tape tower), ObamaCare is undermining our economy by driving prices up and making it harder for small businesses to hire. Then of course, there’s this: the IRS will “play a dominant role in health care” under the president’s law. Do we trust these guys to “enforce most of the laws involved in the reform?”
The House will vote today to fully repeal the health care law. Learn more about this vote, and other successful efforts to repeal and defund parts of the law, here.