Premiums increasing throughout the country under Obamacare
It’s the million-dollar question: Does the Affordable Care Act lower overall prices for health care in America? According to new analysis, the answer is a resounding “No.”
The analysis released by the Manhattan Institute and published by Forbes, surveyed health care costs pre- and post-Obamacare, county by county. Data was broken down for 27, 40, and 64-year olds, as well as by gender.
While results did vary, the conclusion was pretty clear. Obamacare increased 2014 individual-market premiums by an average of 49 percent. Overall, premiums for men throughout the country went up in 91 percent of all counties. For women, premiums increased in 82 percent of all counties surveyed.
As for the details, men saw the highest insurance rate hikes in Buchanan County, Missouri. Their rates went up 271 percent in 2014, compared to 2013. The highest rate hikes for women occurred in Goodhue County, Minnesota, at 200 percent. The states with counties that experiences the biggest rate hikes are Nevada, North Carolina, Minnesota, and Arkansas.
As the report in Forbes points out, it would be a drastic understatement to say that President Obama’s promise that families would save up to $2,500 on health care by the end of his first term, has not happened. It hasn’t even come close to happening.
To most of us, this doesn’t come as a shock. The idea that nationalized health care and an insurance mandate would lower prices for everyone sounded ludicrous when the administration first proposed it, and it sounds even more ludicrous now.
Yet the president sold the law on the promise that it would make our lives better, put money back in our own pockets, and make good health care available to all. It was a pipe dream at best. Now, it’s looking more like a failed experiment. When will Washington take notice?
- 1- Roy, Avik. 3,137-County Analysis: Obamacare Increased 2014 Individual-Market Premiums By Average of 49%. http://www.forbes.com 18 June 2014.