Despite President’s Promise to Lower Costs by $2,500, Millions Brace for Law’s Rate Shock, Rising Costs in 2014
The health law’s rollout has been nothing short of a “debacle,” and sadly the new year promises to be no different. The president’s broken promises have already delivered millions of cancellation notices to families across the country, with millions more possible next year. These families have been left to find new, often much more expensive plans. USA Today explains, “More than half of the counties in 34 states using the federal health insurance exchange lack even a bronze plan that’s affordable – by the government’s own definition – for 40-year-old couples who make just a little too much for financial assistance, a USA Today analysis shows.” And this is just the beginning.
The New York Post notes, “The cost of President Obama’s massive health-care law will hit Americans in 2014 as new taxes pile up on their insurance premiums and their income-tax bills. …The new taxes on one customer’s bill added up to $23.14 a month, or $277.68 annually, according to Kaiser Health News. It boosted the monthly premium from $322.26 to $345.40 for that individual.” The Wall Street Journal adds, “Obamacare includes so many taxes that it’s hard to keep track, but one of the worst takes effect on Jan. 1. This beaut is a levy on health insurance premiums that targets the small business and individual markets. At $8 billion in 2014 and $101 billion over the next decade, the insurance tax is larger than Obamacare’s taxes on medical devices and prescription drugs combined.”
The administration has fought hard to put on a positive face in recent days, moving goalposts once again in an attempt to claim victory. Byron York explains why: “They have no backup plan if their national health care scheme fails.” The law has already failed families whose plans have been cancelled, others whose premiums have skyrocketed, others still who have lost access to their trusted and familiar doctors, and even volunteers across the country have not been immune from the law’s ill effects. The New York Times reports, “The Obama administration has told Vista volunteers and other AmeriCorps workers that their government-provided health coverage does not measure up to the standards of the new health care law, and that they may be subject to financial penalties unless they obtain insurance elsewhere.” Yes, even some government plans are not in compliance.
The president promised American families would see their health care costs go down an average of $2,500 – but sadly, that pledge is turning out to be another broken promise as folks are bracing for the law’s rate shock and higher costs set to kick in starting January 1, 2014. Not exactly a Happy New Year.