On December 4, 2009, Barack Obama spoke to a crowd in Allentown, Pennsylvania. During his winded tome, Obama spoke about how so many Americans have been seeing double digit increases in their healthcare costs and how Obamacare would help control healthcare costs. He stated:
“That’s why I’ve taken on our broken health insurance system, so that families and businesses won’t have to cope with double-digit premium increases year-after-year.”
There has been a great deal of speculation about rate increases for 2016, but many health providers held their breath before making any decisions until they found out how the Supreme Court would rule in the lawsuit that challenged the legality of federal subsidies. Now that the Supreme Court has ruled them to be legal, even though the reason they gave was illegal, insurance companies are now ready to move forward with their rate hikes for 2016. Since the high court seems determined to preserve our national socialist healthcare system, insurance companies are confident in making their double digit rate increase requests.
“Though many are still cheering last month’s U.S. Supreme Court decision on Obamacare, the true costs of the president’s signature Affordable Care Act, including double-digit rate hikes, are just now coming to light.”
“Obamacare’s insurance premiums could jump an average of 41 percent in rates during its first year, following the path that critics prophesied would occur once the benefit mandates, taxes, fees, and regulations take effect in the wake of the U.S. Supreme Court’s ruling, which upheld those subsidies.”
“The Patient Protection and Affordable Care Act reneges on President Barack Obama’s claim that his law would spare U.S. citizens from double-digit premium increases each year, according to Forbes‘ Sally Pipes. Instead, health insurers in various states are asking for those premium increases, some requesting up to a 51-percent increase rate hike after suffering huge losses, such as Blue Cross Blue Shield in Minnesota.”
So I went to Forbes’ Sally Pipes to see what she said and found this:
“Oregon may be the only place where state leaders are ordering consumers to pay more for health insurance. But virtually everywhere else, insurance premiums are climbing — sometimes by as much as 50 percent.”
“And in every case, Obamacare’s benefit mandates, taxes, fees, and onerous regulations are to blame. Worse, thanks to the U.S. Supreme Court’s decision last week to deny the latest legal challenge to Obamacare, the law’s ever-higher premiums are here to stay.”
“President Obama sold his law as a means to spare people from ‘double-digit premium increases year after year.’”
“Instead, his ‘inartfully’ named — and drafted — Patient Protection and Affordable Care Act has made the situation worse, with insurers asking for the double-digit premium increases the president promised to do away with.”
Pipes then reports on Blue Cross Blue Shield Minnesota requesting a 51% rate hike because they lost $135 million last year due to Obamacare. Blue Cross Blue Shield of Illinois is asking for a rate hike of 21% due to the increase they pay if fees and charges imposed by Obamacare. CareFirst of Maryland, who holds 80% of the state’s Obamacare policies, is asking for a 34% increase.
Don’t forget that in June I reported:
“Already we’ve seen requests for increases for individual plans as high as 64.8 percent in Texas, 61 percent in Pennsylvania, 51.6 percent in New Mexico, 36.3 percent in Tennessee, 30.4 percent in Maryland, 25 percent in Oregon, and 19.9 percent in Washington. Those increases would come on top of premium increases last year that were 24.4 percent above what they would have been without Obamacare, according to a study from the National Bureau of Economic Research. At the same time, deductibles for the cheapest Obamacare plans now average about $5,180 for individuals and $10,500 for families.”
The bottom line is that the Supreme Court’s recent rulings on Obamacare have prompted many healthcare insurance companies to make Barack Obama a liar when he promised no more double digit rate hikes. Ironically, the double digit hikes he was referring to in 2009 ranged generally from 10% to 15% at the most. Now with Obamacare, we’re seeing rate hikes well over 20% with some exceeding 50%.
Obamacare has been nothing but lies, lies and more lies from a man determined to destroy our free America and turn it into a socialist nation.