Sunday, January 20, 2013

Obamacare: He Told You So!

Robert Tracinski points out:
As the Affordable Care Act--otherwise known as ObamaCare--begins to be implemented, we are seeing its first big consequence: it is making care less affordable.
The New York Times reports that "Health insurance companies across the country are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration's health care law was to stem the rapid rise in insurance costs for consumers." 
"Even though"? In fact, Obamacare is simply doing what a lot of people predicted it would. Critics of ObamaCare warned that it would produce precisely the kind of premium increases we are now seeing, for precisely the reasons that new reports are now citing. 
I was one of those critics, and I take no joy in pointing out that we told you so.


Blogger Punchinello said...

Actually it was always known that costs would go up in the first few years before full implementation. Even supporters of the law acknowledged this. The savings don't start to show until a few years into full implementation.

January 20, 2013 at 10:08 AM 
Anonymous Anonymous said...

How does that work?

January 20, 2013 at 10:17 AM 
Blogger SteveD said...

Actually, if you read the whole article it does go on to say that: "Federal officials say the law has resulted in significant savings. “The health care law includes new tools to hold insurers accountable for premium hikes and give rebates to consumers,”

And in a subsequent article posted by the NYT on 15 January they go on to say " In New York, however, the rate increases for 2013 are far lower than what insurers requested because state law allows state regulators to roll back unjustified increases. For individual policies, the insurers sought an average 9.5 percent increase but were granted only 4.5 percent. For small groups, insurers asked for 15.8 percent but were approved for 9.6 percent."

Gil, you are entitled to your opinion but please don't omit facts.

January 20, 2013 at 10:19 AM 
Blogger Spencerblog said...

Attention Kool Aid drinkers: From just a couple of months ago, Jake Tapper -

Two new independent studies of health insurance premiums and health care spending indicate both are rising at an accelerated pace, despite President Obama’s 2008 promise to contain those costs and his pledge that his health care legislation would reduce premiums.
Spending on health care rose 4.6 percent in 2011 — up $4,500 per person, on average — according to the nonpartisan Health Care Cost Institute. That’s up from a 3.8 growth rate in 2010.
Health insurance premiums for individuals and families also climbed year-over-year, up 3 percent ($186) on average for an individual and 4 percent ($672) on average for a family, according to the Kaiser Family Foundation.
During Obama’s term, between 2009 to 2012, premiums have climbed $2,370 for the average family with an employer-provided plan – a rate faster than the during the previous four years under President George W. Bush, according to Kaiser.

January 20, 2013 at 3:43 PM 
Blogger SteveD said...

Stop omitting all the facts. The Tapper article goes on to say that:

“It is clear that in recent years health care cost growth has slowed,” Health and Human Services department spokeswoman Erin Shields Britt told ABC News. “In the ten years before the health care law was passed, health care costs increased at 8.7 percent per year on average, according to the independent Kaiser Family Foundation. This study showed a rate of increase of 3.8 percent in 2010 and 4.6 percent in 2011, while in a separate study, the Kaiser Family Foundation recently estimated a rate of increase of 4.0 percent in 2012, illustrating that overall health-care cost growth has significantly slowed in recent years.”

Families are already enjoying savings through curtailed insurance premium growth under the law – compared to what premiums would be without it – officials say. They also point to tax credits and other provisions that are estimated to save middle-income families who purchase private insurance through new exchanges as much as $2,300 per year in 2014.

Who's drinking Kool Aid?

Credit Jake Tapper and Devin Dwyer

January 20, 2013 at 9:15 PM 
Blogger Spencerblog said...

Rise in healthcare costs slowing? It's the recession, stupid. Unbelievable!

January 20, 2013 at 11:26 PM 
Blogger Spencerblog said...

The only way government is going to cut healthcare costs in the future is to ration healthcare. This shouldn't be that hard to understand. In the meantime, the costs continue to go up, along with premiums that can only be held in check by government fiat.

January 20, 2013 at 11:30 PM 
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