Obama’s Affordable Care Act becoming more unaffordable than ever as insurance rates skyrocket

Friday, June 5, 2015
By Paul Martin

by: J. D. Heyes
Friday, June 05, 2015

For years, anyone who suggested that the Affordable Care Act, a.k.a. Obamacare, was mistitled because the law would actually increase out-of-pocket expenses for consumers, was dismissed as a political hack or Obama hater. But now, five years after Obamacare became the law of the land, new data is, once again, proving the naysayers correct.

As reported by Politico, the cost of insurance premiums, for coverage mandated by the law, are set to dramatically increase as insurance companies seek to compensate for the additional cost of providing higher coverage. In at least one case, an insurer – New Mexico Blue Cross Blue Shield – is proposing a 50 percent rate hike, though officials say they may not approve it.

Nevertheless, health insurance experts are nearly universally predicting that premiums – which had already begun to climb because of the law – are set to increase even more significantly in 2016 than in the first two years of Obamacare exchange coverage. According to PricewaterhouseCoopers’ Health Research Institute, Politico reported, premiums increased, on average, by about 5.4 percent.

Rates will only go up from here

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