When Barack Obama, Harry Reid and Nancy Pelosi tried to brainwash the American people into thinking that they needed the Affordable Care Act, they promised that it would drive health care costs down and make it more affordable for everyone.
In a new report released by the Health Care Cost Institute, the cost to employers for their employee health coverage increased by 3.3% in 2010. The inflation rate for the US for 2010 was only 1.5%, less than half the rate of increase of health care.
The Health Care Cost Institute researchers managed to gather data from three of the four largest health insurers by enrollment numbers (Humana Inc, United Health and Aetna). They were also able to gather data from one of the largest nonprofit providers (Kaiser Permanente). To their knowledge, this comprised the largest set of private insurance data every compiled for such research purposes.
Their research revealed that the price of prescriptions increased by 3%, admission cost for inpatient services increased by 5.1% and the cost of outpatient treatments rose by a whopping 10%. While costs across the board were rising at more than double the national inflation rate, the number of people enrolled in health care programs decreased by 1%.
Partially to blame for the decrease in enrollment is credited to the increased cost to employers and employees. While the cost to insurers increased by 2.6%, the cost to employers jumped to 7.1%. Many employers were forced to charge their employees more for their share of the coverage. In addition, the coverage offered to employees was less than in years past and many deductible rates were jacked up by thousands of dollars. Consequently, a growing number of employees refused to pay more for less coverage.
Figures for 2011 are not yet fully available but there are indications that the trend of higher costs for health care continued last year. Additionally, it appears that the number of employees opting out of work provided health coverage has increased as many say they can no longer afford to pay the higher rates.
It seems that the only ones that have benefitted from Obamacare are the doctors, hospitals, health care providers and the federal government. Basically, everyone has benefitted except the American people who are being force to pay more for less or do without all together.
They really need to rename Obamacare as the Unaffordable Care Act.