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Slate Discovers Rising ObamaCare Premiums
By Michael F. Cannon of Cato.
"Now that the coast is clear, Slate has an honest assessment of ObamaCare premiums. Helaine Olen writes:
Under this assault [from ObamaCare opponents], all too
many ACA defenders turned into fanboys and fangirls, dismissing any
issue raised against the law as inconsequential and exaggerated…
But this strategy might well come back to bite the Democrats. The
bill for the health care expansion is coming due, just as the recipients
will be heading to the ballot box to vote in the first primaries for
the 2016 election. More than a few are likely to be annoyed.
Last week Oregon’s insurance commissioner, Laura Cali, announced that
the state had approved a 25 percent premium increase for the largest
health insurer on the state’s exchanges. The second largest insurer did
even better: It received permission to boost its monthly charge to
consumers by 33 percent…
And that sounds like a relative bargain compared with Minnesota and New Mexico,
where the BlueCross BlueShield family is looking for increases of more
than 50 percent. Even if the final numbers are lower than the asks, it
seems quite likely these states will approve substantive premium
increases.
The problem is simple. As Trudy Lieberman reported this month in Harper’s,
the ACA made a decent stab at solving the problem of Americans lacking
insurance. Unfortunately, the bargain struck to get the bill to a point
where lobbyists for the hospital, insurance, and pharmaceutical
industries to sign on, or at least not fight it, did not adequately
address the issue of overall medical costs.
And that’s where the consumer comes in. Someone is “it,” the party
paying the bill. And that “it” is increasingly you, whether you receive
insurance on the exchanges or from an employer.
Or as I like to put it, ObamaCare doesn’t make health insurance more
affordable. It robs Peter to pay Paul. When selling ObamaCare,
supporters told everyone, “Don’t worry, you’re Paul.” But as time goes
by, more Americans are realizing they’re not Paul. They’re Peter."
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