In a direct contradiction to Barack Obama and Congressional Democrats, a special report issued this week indicates that most Americans will pay higher premiums in the Obamacare healthcare exchanges than they do currently in their own private plans.
When Obama rolled out the "Affordable Care Act" in 2009 just after being elected to his first term, he stated that the average American family would pay $1,500 less per year in premiums than under their current plans.
But according to a National Journal analysis of new coverage and cost data, for the vast majority of Americans healthcare premiums will be dramatically higher in the Obamacare exchanges than what they currently pay for their employer sponsored insurance.
A Kaiser Family Foundation report found that in Massachusetts, for example, the Romneycare plan, which was used as model for Obamacare, resulted in an increase in premiums by 80 percent for families and 74 percent for singles.
The Kaiser report further noted that more and more employers are dropping healthcare coverage for their employees due to prohibitive costs. Currently 49 percent of Americans receive an employer sponsored healthcare plan. That number is certain to plummet, especially for small businesses that are forcing full time employees into part time status so that employers do not have to provide insurance under the provisions of the new law.
The trend has put a damper on the economy, and the impact will be more severe as long as there is the current vast uncertainty for both employers and employees as a result of the new Obamacare law.
Two key facts can be gleaned from the National Journal report that is of critical interest to most citizens. In the first place, a person must earn $20,000 or less in order for their current premiums to drop or stay the same. Anyone making over $20,000 per year will see significant increases, the amount of which will vary from state to state.
Further, the promise made by Barack Obama and Congressional Democrats in 2009 that the new healthcare plan would decrease the costs of healthcare by an estimated $1,500 per year was a blatant falsehood. Instead, the truth is that average costs for American families will increase by $7,450, according to Forbes Magazine.
The real truth, therefore, is clear. Obamacare will not make healthcare more affordable for the vast majority of Americans. Rather, the opposite is true. Most will be forced to pay significantly higher premiums, along with skyrocketing out of pocket deductibles, under the Obamacare law.
This is what the Democrat-controlled U.S. Senate and Barack Obama have in store for most citizens. And not even a dramatic "Mr. Smith Goes to Washington" speech by U.S. Sen. Ted Cruz, R-Texas, could persuade the detached elitists in the Senate to change course.
My latest entry is now posted on my blog in the popular series, Musings After Midnight, titled, "The Stealth War."
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