Were American’s misled about the cost of ObamaCare?
Does a duck quack? Of course they were. Were politicians pushing an agenda involved? That’s a rhetorical question:
And yes, we told you so.
As Thomas Sowell pointed out, and I’m paraphrasing, how anyone thought that adding a layer of bureaucracy and regulation to the current system was going to drive costs down was beyond him.
And it was beyond most people who have even a modicum of common sense.
Medical claims costs — the biggest driver of health insurance premiums — will jump an average 32 percent for Americans’ individual policies under President Obama’s overhaul, according to a study by the nation’s leading group of financial risk analysts.
The report could turn into a big headache for the Obama administration at a time when many parts of the country remain skeptical about the Affordable Care Act. The estimates were recently released by the Society of Actuaries to its members.
While some states will see medical claims costs per person decline, the report concluded the overwhelming majority will see double-digit increases in their individual health insurance markets, where people purchase coverage directly from insurers.
The disparities are striking. By 2017, the estimated increase would be 62 percent for California, about 80 percent for Ohio, more than 20 percent for Florida and 67 percent for Maryland. Much of the reason for the higher claims costs is that sicker people are expected to join the pool, the report said.
Well done, Democrats — well done.