One of the main promises made by Barack Obama to every American was that Obamacare would keep healthcare costs low and affordable for everyone. Costs for individuals, employees and employers were all supposed to be lowered and then kept under control.
If you believed Obama’s promise, then contact me as I have a bridge to sell you.
The Kaiser Family Foundation conducted a survey comparing the costs of healthcare in 2010 to 2015. What they discovered may or may not shock you, but it revealed just how unsuccessful the Affordable Care Act has been.
In 2015, the average cost of employer provided family healthcare coverage was $17,545 a year. Consequently, employers are paying less and less each year for their part of family coverage, leaving the average cost per worker of $4,955 a year. That’s an increase of 27% since 2010. During the same time period, deductibles increased 67% while the average family income increased by only 10%.
Drew Altman, President of the Kaiser Family Foundation commented about the survey results, saying:
“If wages were keeping up with the growth in cost sharing, it wouldn’t be as big of a deal for people, but the pain level is significant. It really affects family budgets.”
Kara Brandeisky with Time.com Money points out that ten years ago, only 55% of employer provided health plans required a deductible. Today that figure has increased to 81% and the number of people in high deductible plans has increased to 24%, meaning that employees are paying more and more out of pocket for their healthcare.
The Kaiser survey also reported that the total cost of employer provided healthcare plans for individuals has risen to an average of $6,251 a year. Employers pay an average of 82% of the premiums for individual coverage for employees while at the same time paying only 71% of the premiums for family coverage.
The costs of healthcare insurance has not been lowered or kept in check. Those costs are skyrocketing more than double the rate of increases in income. The Kaiser Family Foundation yields further proof that Obamacare has not lived up to the promises made by Barack Obama and Nancy Pelosi.