Re: Might not mean anything, but DEMOCRATS just voted to cut Obama-care
posted at 3/22/2013 6:13 PM EDT
Two new independent studies of health insurance premiums and health care spending indicate both are rising at an accelerated pace, despite President Obama’s 2008 promise to contain those costs and his pledge that his health care legislation would reduce premiums.
Spending on health care rose 4.6 percent in 2011 — up $4,500 per person, on average — according to the nonpartisan Health Care Cost Institute. That’s up from a 3.8 growth rate in 2010.
Health insurance premiums for individuals and families also climbed year-over-year, up 3 percent ($186) on average for an individual and 4 percent ($672) on average for a family, according to the Kaiser Family Foundation.
During Obama’s term, between 2009 to 2012, premiums have climbed $2,370 for the average family with an employer-provided plan – a rate faster than the during the previous four years under President George W. Bush, according to Kaiser.
Investor’s Business Daily’s John Merline was first to note the difference in premiums climbing faster under Obama than the previous four years under Bush.
Experts point to rising health care costs as the driver of increased individual spending and higher premiums.
During the 2008 campaign and health care reform debate in 2009, President Obama said repeatedly that his plan would bend the cost curve downward, ultimately saving the average family $2,500 per year.
HERE'S THE MEAT:
Let’s reflect with him. During his first campaign for the presidency in 2008, the president promised that his health reform plan would “bring down premiums by $2,500 for the typical family” by the end of his first term.
Well, that first term is just about up. And health insurance isn’t any cheaper. In fact, it’s more expensive. Premiums have increased by an average of $3,065. And they’re about to go up even more, as Obamacare takes effect during the president’s second term.
At the end of 2012, Mark Bertolini, the CEO of Aetna, the third-largest health insurer in the country, warned that many consumers would face “premium rate shock” with the advent of Obamacare’s major insurance regulations in 2014. He predicted that unsubsidized premiums would rise 20 to 50 percent, on average.
For some people, premiums would double. “We’re going to see some markets go up as much as 100 percent,” Bertolini told Bloomberg News.