VIDEO: Rep. Greg Walden on Fox Business Channel: Internet Freedom Legislation and Obamacare #RateShock
WASHINGTON, DC – Communications and Technology Subcommittee Chairman Greg Walden (R-OR) last night appeared on Fox Business Network’s Lou Dobbs Tonight to discuss Internet freedom legislation that was unanimously approved by the House Tuesday night. Walden also explained the findings of a report released this week by the Energy and Commerce Committee that reveals the health care law’s policies, mandates, taxes, and fees will cause "outrageous" premium increases for consumers in the individual, small group and large group markets.
Detailed in the committee’s report, “The Looming Premium Rate Shock,” one leading national insurer estimates the total average change due to the PPACA for new participants in the individual market will be a 96 percent increase in premiums. Existing customers can expect an average increase of 73 percent. Some new participants in the individual market could see a premium increase as much as 413 percent when new requirements on age rating and required benefits are taken into account. The average yearly cost for a new customer in the individual market grows from $1,896 to $3,708 -- a $1,812 cost increase. Many Americans, from recent college graduates to older adults, will not be able to afford the law’s higher costs.