|Middle class will face higher premiums, taxes|
Last week in the News-Review, the front page featured what I consider was yet another perfect example of government deception perpetrated on the American people.
The story outlined a Sept. 25, Health and Human Services (HHS) report in which the nation was informed that “The average premium nationally for the second lowest-cost silver plan is $328 before tax credits, or 16% below projections based on Congressional Budget Office estimates. About 95% of uninsured people eligible for the Marketplace live in a state where their average premium is lower than projections.”However, before one can fully analyze the much-touted cost savings, one must know the fundamental component missing from the equation. And that component is the rates that were in place before the law took effect on Oct. 1, which when learned, will not bolster confidence in government honesty.
According to a comprehensive 50-state analysis performed by the Heritage Foundation, insurance premiums will increase under the first year of ObamaCare in 45 of 50 states. In the remaining five states that do see a decrease, the existing rates were inordinately high to begin with, resulting in skewed outcomes. Therefore, the following rate increases that I have compiled are based on a 45-state average.
A 27-year-old individual will incur a 72% increase, 50-year-olds a 46% spike and a family of four will be subjected to a 16% rise in monthly premiums.
As it turns out, the 16% decrease as touted by HHS is based on Congressional Budget Office projections for 2016 as compared to the findings of HHS itself, making the entire savings issue a ruse merely to steer public perception in a positive direction after people realized that Barack Obama broke a key promise that the health-care law would “cut the cost of a typical family’s premium by up to $2,500 a year.”
To add insult to injury, the higher premiums do not take into account the common doubling and tripling of out-of-pocket costs in the form of deductibles that typically range from $5,000 to $15,000 which must be paid by the policyholder before the actual insurance kicks in.
And even though the above percentages are before government subsidies, the entitlement protects mostly lower-income folks, leaving middle-class Americans facing higher insurance premiums and taxes to pay for other people’s subsidies, highlighting one of Barack Obama’s deeply flawed ideological tenets that teaches, “When you spread the wealth around, it’s good for everybody.”
For more information, including the 50-state study, please search online: “Study: ObamaCare Results in Premium Increase in 45 States,” and “ObamaCare Metal Plans-HealthPocket.”
Prospect Heights, Ill.
and Eagle River
|Tuesday, October 22, 2013 2:54 PM|