A new
Congressional Budget Office (CBO) report estimates that private health
insurance premiums will continue to balloon over the next decade thanks in
large part to Obamacare.
The report states that, over the next 10 years, private health
insurance premiums will increase by about 5 percent annually — a rate that
outpaces the gross domestic product by 2 percentage points.
By 2025, employment-based coverage (health-care insurance
an employer offers) will cost 60 percent more than it does today. For a family,
that increase costs to an average of $24,500 per year. For those with an
individual plan, health-care costs will increase to cost an average $10,000 per
year.
What’s driving these price increases? Obamacare.
The CBO report
states that Obamacare’s costly federal mandates on insurance companies — like
forcing them to cover everyone regardless of preexisting conditions — increased
costs of individual, or non-group, health-care plans (which account for 15
percent of all plans) by 27 to 30 percent.
Increased
costs don’t just affect the families and individuals shilling out escalating
amounts of cash for their plans, it also affects the national budget and
taxpayers who subsidize them. The subsidies that the federal government offers
to some people to pay for health insurance cost about $300 billion this fiscal
year.
Obama
campaigned on the promise that his namesake legislation would reduce
health-care costs for the average family by up to $2,500 annually. Here’s a
supercut in which he repeats that promise 19 times.
(h/t Breitbart)
But as it turns out, the health-care law that was supposed
to lower costs is actually doing the opposite. If only someone had predicted this
earlier!
