As reports are coming in across the country of over 2 million Americans being dropped from their existing health insurance plans due to new regulations under Obamacare, and many more are suffering sticker or rate shock as well, NBC News has released a report that reveals some startling details of what the administration itself knew about the effects of Obamacare. Some of the highlights of the report are as follows:
- Despite repeated assurances from President Obama that “if you like your plan, you can keep it”, senior administration officials knew this to be false as far back as 2010, as insurers would be forced to alter their plans and make them more expensive due to provisions in the healthcare law
- Some in the administration are now estimating that as many as 80% of Americans who purchase insurance on the individual marketplace can expect to receive cancellation letters from their insurance providers
- Those forced to buy different plans as a result of these cancellations will likely experience the same “rate shock” referenced above
As one North Carolinian, facing a 415% increase in his families monthly premium said, “Everybody's worried about whether the website works or not, but that's fixable. That's just the tip of the iceberg. This stuff isn't fixable”. That analysis is correct. Obamacare is not fixable, or re-workable. It was sold to the middle class as a reasonable option to lower their healthcare costs and to expand coverage for the uninsured. In reality, however, it is an expensive, top-down government program that raises costs on the middle class and the young and healthy in order to subsidize those who are more costly to insure in the marketplace.
Voters in 2014’s midterm elections would be wise to remember exactly who brought them this ill-advised prescription.
To read a full copy of the NBC News report, click here.