Posted on 11/15/2013 12:18:36 PM PST by Beave Meister
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.
In a letter to state insurance commissioners, Center for Consumer Information and Insurance Oversight director Gary Cohen wrote on Thursday that one reason for the new Obamacare measures the president announced Thursday is that millions of consumers receiving cancellation letters from their insurers are learning the Affordable Care Act options are in fact less affordable.
'Although affected individuals and small businesses may access quality health insurance coverage through the new Health Insurance Marketplaces,' Cohen wrote, '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.'
His written statement contradicts President Obama's campaign promises that the Affordable Care Act would lower costs for Americans.
In October 2008 he said during a campaign rally in Columbus, Ohio that 'we are going to work with you to lower your premiums by $2,500. We will not wait 20 years from now to do it, or 10 years from now to do it. We will do it by the end of my first term as president.'
(Excerpt) Read more at dailymail.co.uk ...
Wait til Bammer has to go out and explain that “2500 savings per family” BS he was spreading...
The truth American journalists and the American media will not expose because they have no b*lls...Thanks again UK.
That’s another statement that the left needs their noses rubbed in -
“yeah, what are YOU going to do with the $2500 you’re going to save? I’m buying a motorcycle!”
$2500 in savings per family, but only if your family is filled with obese, diabetic cancer patients who want sex change operations in between fits of epilepsy.
I've come to realize that Obama is really, really dumb, and not just because he said he thought HS Algebra was hard and wasn't even embarrassed. He does not seem to get it that insurance is about evaluating risk and what one is willing to pay to protect against something that might happen. There is just no insuring that makes sense if risk of something happening is 100% or 0%.
Life insurance?....it's a bet about when one will die.
Duh! When has any government entitlement ever stayed within projected costs?
We have been saying forever that the CBO projections were politically-motivated bunk.
It just keeps getting gooder and gooder.
The usurping occupant lies. Constantly.
Well, it costs a lot of money to subsidize unlimited drug rehab, STD and mental health treatment for Obama’s people.
Why didn’t Obama ask each of us “über rich” people who make more than $50k a year to pick a poor person and sponsor his insurance?
Revealed: Obamacare plans will cost MORE ‘in many cases’ BECAUSE OF government subsidies!
Fixed.
I'm sure there must've been some economic thesis written concerning elasticity of demand and government subsidies. Simply, consumers do not consider the portion of the insurance premium paid by the government subsidy as "cost" because they don't have to pay it. So if the total premium is $1000, but the government pays $500, then consumers think of the "cost" as $500. That allows the insurance companies to raise the rates without too much fuss from the consumer.
But, but, but, 0bama told me that it would be cheap and I could keep my insurance! Are you saying that he lied to me?! /s
This whole thing is just plain evil. There is no quality of this that is not Satanic.
People should not have to pay for someone else to have shitty health insurance. Thing is, The communists will take the money, spend it on their voters, and screw everyone else. Basically giving the the death penalty at an higher price.
We need to stop this.
As Pelosi said "We have to pass it so we know what's in it" - just like saying you have to pass a stool sample to know what's in it.
Maybe this is what John Roberts was secretly thinking about when he voted to uphold ObamaCare. What if he knew deep down inside this would happen? What if we find out he has a very diabolical mind after all.....
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