Posted 09/27/2011 06:42 PM ETRead the rest of the editorial here.
Health Care: Until now, many of the fears about ObamaCare have been theoretical. But this year's 9% spike in premiums is concrete evidence of the substantial harm it's already doing to our health care system.
As soon as the Kaiser Family Foundation's annual report on insurance premiums was released, ObamaCare defenders dismissed its most troubling finding: Insurance premiums for family coverage shot up an average $1,482 this year.
Nothing to worry about, they said, it's just a response to higher health costs and bad forecasts. But wait a minute! Didn't Obama promise his signature health reform plan would lower insurance premiums? As a matter of fact he did, saying just before he signed it into law that ObamaCare would "bring down the cost of health care for families, for businesses and for the federal government."
Not only did that not happen, ObamaCare has reversed a years-long trend toward smaller annual premium increases (see chart), suggesting insurers finally started to figure out how to get costs down.
The only thing that changed this year was the leading edge of ObamaCare's hurricane of mandates and regulations. Insurers now have to let children stay on their parents' plans until age 26. Annual coverage limits have been forced up. And Washington bureaucrats are busy writing rules on what insurers must cover.
There were plenty of warnings that these "reforms" would quickly push up prices. Hewitt Associates predicted premiums would climb 8.8% in 2011 — highest in five years — blaming reform for at least part of that rise.
Even the AARP, which strongly backed ObamaCare, told its own employees last November that they could expect higher premiums, in part thanks to the reform
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Wednesday, September 28, 2011
Thanks Obamacare!
Well they did it to gasoline ($1.70 on Inauguration Day) and now they are doing it to Health Care. Reversing a several year decline (yes decline) in the rate Health Care Costs, 2011 is seeing an increase of over 9%. Health Care had been rising at only a 2.9% rate in 2010 but thanks to new mandates and regulation soon to come we are back to over 9% increases. And wasn't the whole point of Obamacare to save us money? Investors Business Daily put out another superlative editorial on the effects of Obamacare:
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