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Designing A “Train Wreck”

- April 22, 2013

The Architects Of ObamaCare Are Conceding That The Law Is A Financial Albatross For Americans

Democrat Senator Max Baucus (D-MT): “I Just See A Huge Train Wreck Coming Down.” MAX BAUCUS: “I just see a huge train wreck coming down, you and I have discussed this many times, and I don't see any results yet."(Committee On Finance, U.S. Senate, Hearing, 4/17/13)

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Former Obama Health Care Adviser Zeke Emanuel Says ObamaCare Uncertainty Is Driving Up Health Care Premiums. ZEKE EMANUEL: “The last thing, of course, is what happens with costs which may be the biggest question of all. Can the premiums be kept relatively stable and not growing at, you know, 10%, 12%.  The first year is filled with uncertainty. No one including the insurers, the hospitals, the federal government knows how many people are going to come in, are they going to be a broad representation of people who are uninsured or are only the sick going to go in? That is a big fear of the insurance companies. That's why you're seeing the increase in rates. They're worried, well, we'll only get the sick, we're going to pay a lot of money so we're increasing the rates as an uncertainty.” (NBC’s “Meet The Press – Press Pass,” 4/21/13)

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Health And Human Services (HHS) Secretary Kathleen Sebelius Told Reporters That Health Care Premiums Will Rise. “Some people purchasing new insurance policies for themselves this fall could see premiums rise because of requirements in the health-care law, Health and Human Services Secretary Kathleen Sebelius told reporters Tuesday.” (Louise Radnofsky, “Sebelius: Some Could See Insurance Premiums,” The Wall Street Journal, 3/26/13)

  • Secretary Kathleen Sebelius: “These Folks Will Be Moving Into A Really Fully Insured Product For The First Time, And So There May Be A Higher Cost Associated With Getting Into That Market.” “‘These folks will be moving into a really fully insured product for the first time, and so there may be a higher cost associated with getting into that market,’ she said.” (Louise Radnofsky, “Sebelius: Some Could See Insurance Premiums,” The Wall Street Journal, 3/26/13)
     
  • “Men And Younger Customers Could See Their Rates Increase” According To HHS Secretary Kathleen Sebelius.  “She also said that some men and younger customers could see their rates increase while women and older customers could see their rates drop because the law restricts insurers’ ability to set rates based on age and gender.” (Louise Radnofsky, “Sebelius: Some Could See Insurance Premiums,” The Wall Street Journal, 3/26/13)

Health Economist And ObamaCare Architect Jon Gruber: “A Slice Of The Younger Population” Will See An Increase In Health Premiums. “The increase will most likely be substantial for ‘a slice of the younger population,’ said Massachusetts Institute of Technology health economist Jon Gruber, a supporter of the health law who has studied its impact on premiums.” (Brett Norman, “ACA Premium Sticker Shock Could Fuel Foes,” Politico, 2/4/13)

  • Gruber: ObamaCare Will Create Health Care Insurance “Losers” That Will Pay More Than Before ObamaCare. “‘It is true that even after tax credits some individuals are ‘losers,’’ he conceded, ‘in that they pay more than before [Obama's] reform.’” (Myles Miller, “ObamaCare Architect: Expect Steep Increase In Health Care Premiums,” The Daily Caller, 2/11/12)
     
  • Gruber: Americans Who Purchase Their Health Care On “The Individual Market Will Experience An Average Premium Increase Of 31 Percent.” “‘After the application of tax subsidies, 59 percent of the individual market will experience an average premium increase of 31 percent,’ Gruber reported.” (Myles Miller, “ObamaCare Architect: Expect Steep Increase In Health Care Premiums,” The Daily Caller, 2/11/12)

Under Obama, Health Care Premiums Continue To Rise

The Nonpartisan Society Of Actuaries Has Found That ObamaCare Will Increase Health Insurance Costs “By An Average Of 32 Percent Per Person.” “The Society of Actuaries, a nonpartisan professional association, has issued a new report warning that the cost of medical claims in the new individual-insurance market could rise by an average of 32% per person over the first few years the law is in place, as more people with higher medical needs get coverage, and that the impact will be very different depending on the state. Medical bills are another key factor in determining premiums.” (Louise Radnofsky, “Sebelius: Some Could See Insurance Premiums,” The Wall Street Journal, 3/26/13)

  • The Premium Increases Come From ObamaCare’s Affect On “Medical Claims Costs -- The Biggest Driver Of Health Insurance Premiums.” “Medical claims costs — the biggest driver of health insurance premiums — will jump an average 32 percent for Americans' individual policies under President Barack Obama's overhaul, according to a study by the nation's leading group of financial risk analysts.” (Ricardo Alonso-Zaldivar, “Study: Health Overhaul To Raise Claims Cost 32 Percent,” The Associated Press, 3/26/13)

An “Overwhelming Majority” Of States Will Face Double-Digit Increases. “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.” (Ricardo Alonso-Zaldivar, “Study: Health Overhaul To Raise Claims Cost 32 Percent,” The Associated Press, 3/26/13)

Under Obama, The Average Cost Of Family Health Care Premiums Has Increased By $3,065 From $12,680 To $15,745, A 24.2 Percent Increase. (“Employer Health Benefits, 2012 Annual Survey, Exhibit 6.4” The Kaiser Family Foundation, 2012)

  • “The Average Annual Premiums In 2012 Are $5,615 For Single Coverage And $15,745 For Family Coverage.” (“Employer Health Benefits, 2012 Annual Survey,” The Kaiser Family Foundation, 9/11/12)
     
  • “Average Premiums Increased 3% For Single Coverage And 4% For Family Coverage In The Last Year.” (“Employer Health Benefits; 2012 Annual Survey,” The Kaiser Family Foundation, 9/11/12)

 


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