Obamacare Doubles Premiums for Many Americans
In a recent campaign speech in Cincinnati Ohio President Obama claimed "premiums will go down."
However, studies on the effects of Obamacare evidence premiums will not go down but will increase for "a material portion of the population." Specifically the young and healthy will be burdened by exponential increases in their premiums as a result of Obamacare.
An article published by the Washington Post today compiled numerous studies from around the country, all of which indicated that Obamacare will lead to sharp premium increases for young and healthy Americans.
President Obama's campaign promise that "premiums will go down" finds no factual support. If legislative action is not taken to repeal Obamacare:
- Nationwide Study - Premiums in the individual market would increase from 8 to 37 percent in 2014 - with a cumulative increase of as much as 122 percent between 2013 and 2017.
- Ohio - A healthy young man would experience a rate increase of 90 to 130 percent.
- Indiana - The law would boost premiums in the individual market on average by 75 to 95 percent and in the small employer market by 5-10 percent in 2014.
- Ohio - Rates would go up 55 to 85 percent above current rates.
- Minnesota - Individual market premiums will increase between 26 to 42 percent.
- Maine - Individual premiums will increase on average by 40 percent and premiums in the small group market are likely to increase 8 to 9 percent...20 percent of the individual market would still experience premium increases even after subsidies.
- Maryland - Individual premiums will go up on average by 34 to 36 percent.
- Wisconsin - Before tax credits, the average premium increases in the individual market will be 30 percent.
- Colorado - Individual premiums will go up on average 19 percent.
- Rhode Island - Before tax subsidies, premiums for individuals will increase on average by 8 percent.