No, it wasn’t just your imagination. Yes, your health care plan is less affordable in spite of the “Affordable Care Act”, and now insurance officials are echoing what we’ve been saying all along.
Back in early April, Morgan Stanley’s survey of insurance brokers found the cost of health care insurance premiums for consumers were beginning to skyrocket due to ObamaCare. Stories of consumers racking up debt to pay for their mandated coverage after ACA was enacted also painted a grim picture from the get-go. Insurers even started warning consumers of the increasingly high premium rates, proving the truth is a hard thing to avoid for long.
What ObamaCare has proven time and time again is simple: heavily regulated markets affect those who need help the most, but Obama’s White House has been denying this is a reality even as reports of ACA failures keep on piling up. A quick search for ObamaCare insurance premium hikes on the White House official website shows how delusional this administration is about its signature health care law:
“Reform will lower premiums by reducing administrative costs, increasing competition between insurance companies and creating a larger pool of insured Americans.”
But alas, the White House was wrong.
A new report has recently painted a different picture and for once, this Administration admitted to the increasing costs of plans:
“The Obama administration has directly conceded for the first time that ‘in many cases,’ health insurance plans offered through government exchanges are more expensive than plans consumers bought before the Affordable Care Act became law – even when government subsidies are figured in.”
You heard that crystal clear: plans purchased before ObamaCare, or the Affordable Care Act, were more affordable than plans purchased after the law kicked in. That’s exactly the opposite of what we were promised. You can’t make this up.
New ObamaCare measures presented by the president last Thursday, said the letter penned by Center for Consumer Information and Insurance Oversight director Gary Cohen, were the administration’s response to the fact Americans are being forced to pay for a high cost of premiums as a result of ACA:
“Although affected individuals and small businesses may access quality health insurance coverage through the new Health Insurance Marketplaces, in many cases with federal subsidies, some of them are finding that such coverage would be more expensive than their current coverage, and thus they may [be] dissuaded from immediately transitioning to such coverage.”
After Obama promised low- and middle-income Americans the opportunity to obtain affordable coverage “because of the competition between insurers and the new health care tax credits” provided by ACA. At least now, somebody from inside of this administration has the courage to admit the president broke another promise to the American people.