Here is the latest from the Associated Press regarding the effect on Obamacare on health insurance premiums:
Medical claims costs — the biggest driver of health insurance premiums — will jump an average 32 percent for Americans' individual policies under President Barack Obama's overhaul, according to a study by the nation's leading group of financial risk analysts.... The estimates were recently released by the Society of Actuaries to its members.
In some states, the cost of claims will rise by an estimated 80%. In a few, costs will actually decline. On the whole, however, the cost of insurance will soar out of sight.
If one wanted to guage the political reaction to this development, probably the best way to proceed is to look at how costs for claims will do in the so called swing states. Ohio is the quintessential swing state. Its costs are expected to increase by over 80%. Wisconsin will see increases of more than 60%. Missouri is looking at a rise of between 40 and 60%. Florida, Pennsylvania, Virginia, Michigan, Nevada, New Mexico and New Hampshire will see increases of between 20 and 40%. The only swing states that will see increases only in the teens are Iowa and North Carolina. The proper question to ask yourself is this: How do you think the average voter will react when he or she learns that Obamacare is going to drive up the cost of health insurance by something like 50%? And don't tell me about subsidies. In most states, there can be no subsidies according to the law. Even in places where there will be subsidies, they are unlikely to make up for a 50% increase in premiums.
Here is a second question to ask. Will the average voter be prepared to pay 50% more for his or her health insurance and to pay a whole raft of extra Obamacare taxes as well just so that a few more million folks who did not used to have insurance will now be insured? I don't think so. Getting insurance for those without coverage sounds good. On the other hand, paying and extra $5000 per year for insurance and and extra $2000 in Obamacare taxes is not a price that most families will consider worthwhile just to get coverage for a few extra million people.
Without a doubt, America knows that Obamacare was pushed through by the Democrats over the total opposition of the GOP. When things hit the fan and the price of insurance goes through the roof while the quality of care declines, the voters will know who is responsible. The Democrats better hang on tight; it's going to be a bumpy ride.
Medical claims costs — the biggest driver of health insurance premiums — will jump an average 32 percent for Americans' individual policies under President Barack Obama's overhaul, according to a study by the nation's leading group of financial risk analysts.... The estimates were recently released by the Society of Actuaries to its members.
In some states, the cost of claims will rise by an estimated 80%. In a few, costs will actually decline. On the whole, however, the cost of insurance will soar out of sight.
If one wanted to guage the political reaction to this development, probably the best way to proceed is to look at how costs for claims will do in the so called swing states. Ohio is the quintessential swing state. Its costs are expected to increase by over 80%. Wisconsin will see increases of more than 60%. Missouri is looking at a rise of between 40 and 60%. Florida, Pennsylvania, Virginia, Michigan, Nevada, New Mexico and New Hampshire will see increases of between 20 and 40%. The only swing states that will see increases only in the teens are Iowa and North Carolina. The proper question to ask yourself is this: How do you think the average voter will react when he or she learns that Obamacare is going to drive up the cost of health insurance by something like 50%? And don't tell me about subsidies. In most states, there can be no subsidies according to the law. Even in places where there will be subsidies, they are unlikely to make up for a 50% increase in premiums.
Here is a second question to ask. Will the average voter be prepared to pay 50% more for his or her health insurance and to pay a whole raft of extra Obamacare taxes as well just so that a few more million folks who did not used to have insurance will now be insured? I don't think so. Getting insurance for those without coverage sounds good. On the other hand, paying and extra $5000 per year for insurance and and extra $2000 in Obamacare taxes is not a price that most families will consider worthwhile just to get coverage for a few extra million people.
Without a doubt, America knows that Obamacare was pushed through by the Democrats over the total opposition of the GOP. When things hit the fan and the price of insurance goes through the roof while the quality of care declines, the voters will know who is responsible. The Democrats better hang on tight; it's going to be a bumpy ride.
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