The Associated Press ran the numbers and gives further evidence to what should be obvious: Obamacare hasn’t led to the cost reductions that were promised – not by a long shot. The wire service writes:
Taxpayers will fork over nearly $10 billion more next year to cover double-digit premium hikes for subsidized health insurance under President Barack Obama’s law, according to a study being released Thursday.
The analysis from the Center for Health and Economy comes as the Republican-led Congress is preparing to repeal “Obamacare” and replace it with a GOP alternative whose details have yet to be worked out. With incoming President Donald Trump likely to sign such legislation, historic coverage gains under the 2010 health law are at stake.
The study estimates that the cost of premium subsidies under the Affordable Care Act will increase by $9.8 billion next year, rising from $32.8 billion currently to $42.6 billion.
The average monthly subsidy will increase by $76, or 26 percent, from $291 currently to $367 in 2017.
To read more, click here.
It’s either an increase in subsidy payments or millions of Americans who need these high deductible plans wouldn’t be able to afford them. High deductible plans are actually catastrophic plans. Expensive catastrophic plans may I add.
Obamacare was the worst of the worst. And now, look where we’re at. Nobody is happy.