Health Premiums to Skyrocket Says Architect of Obamacare

Jonathan Gruber is an economist at the Massachusetts Institute of Technology.  He also has the distinction of being one of the principle architects of both Romneycare and Obamacare.

In 2010, Gruber provided an analysis of Obamacare for the White House.  In September 2010, Obama announced to the nation,

“As a consequence of the Affordable Care Act, premiums are going to be lower than they would be otherwise; health care costs overall are going to be lower than they would be otherwise.”

Now in a recent interview, Gruber said that he is backtracking on that analysis.  Based upon a more recent analysis conducted in 2011, he now says that insurance premiums are going to dramatically increase under the Obama’s health reforms.

Officials from Colorado, Wisconsin and Minnesota paid for Gruber’s newest analysis.  In August of 2011, Gruber met with the officials from Wisconsin to explain his report.  He told them that some people will benefit from the health reform laws while a larger majority of the people will see a dramatic increase in costs.

Speaking on the tax subsidies of the Affordable Care Act, Gruber told the Wisconsin delegation,

“After the application of tax subsidies, 59 percent of the individual market will experience an average premium increase of 31 percent.”

The huge premium increase was due to the fact that about 40% of Wisconsin residents with individual health insurance do not meet the minimum coverage requirements of the Affordable Care Act.  Failing to qualify will mean that these people will be required to purchase other insurance plans which carry a higher cost to the individual.

Ironically, this is exactly what opponents to Obamacare predicted would happen before the act was ever passed.  The proponents of Obamacare ridiculed the claims of higher costs as nothing more than fear tactics aimed to prevent the passage of the bill.  Now it seems that these supposed fear tactics are more of a reality than Obama, Reid and Pelosi had claimed.

So the end result is that more Americans in today’s struggling economy will not be able to afford health care and will be uninsured altogether.  Any health issues they face will have to be paid out of their already empty pockets, forcing them to go further into debt.  More Americans will end up declaring bankruptcy and will lose their homes to foreclosure.

I sure wouldn’t call this affordable health care, would you?