A new House Energy & Commerce Committee report shows that when it comes to the Patient Protection and Affordable Care Act's effects on insurance premiums, an old saying is on target: If something seems too good to be true, it probably is.
The report is based on 17 leading insurers' existing analyses of ObamaCare's likely effects once it's fully implemented. The new services, benefits and ratings and operation rules that ObamaCare requires for insurers, and the new taxes and fees it imposes, which insurers will pass on to consumers, will make health insurance anything but “affordable” for far too many Americans.
First-time individual policy buyers will see a total average increase of 96 percent in premiums; existing individual customers, an average rise of 73 percent. But individual premiums could rise as much as 413 percent — and Pennsylvanians can expect a 30-percent average increase.
In the small group — read: small business — market, premiums will rise as much as 50 percent, with a 27-percent hike expected in Pennsylvania.
And in the large group market, premiums for plans covering 50 or more people will rise 20 percent to 25 percent.
The president's claim that ObamaCare would “lower costs for families and businesses,” which the White House continues to repeat, is thus revealed as false — and a cynically deceptive political ploy that undermines the private insurance market, paving the way for a government takeover of health care.
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