AP: Premiums Will Increase Under ObamaCare

by Stephan Tawney on March 17, 2010

Contrary to claims by Democrats in the White House and Congress that premiums will decrease under government-run health care, costs will actually increase under the legislation. That’s not just my conclusion but that of the Associated Press — not exactly known for its opposition to left-wing policies.

WASHINGTON — Buyers, beware: President Barack Obama says his health care overhaul will lower premiums by double digits, but check the fine print.

Premiums are likely to keep going up even if the health care bill passes, experts say. If cost controls work as advertised, annual increases would level off with time. But don’t look for a rollback. Instead, the main reason premiums would be more affordable is that new government tax credits would help cover the cost for millions of people.

Listening to Obama pitch his plan, you might not realize that’s how it works.

No, mainly because he just claimed yesterday that premiums would fall by, I shit you not, 3000% and that such a fall would lead to a salary increase for workers…somehow.

“There’s no question premiums are still going to keep going up,” said Larry Levitt of the Kaiser Family Foundation, a research clearinghouse on the health care system. “There are pieces of reform that will hopefully keep them from going up as fast. But it would be miraculous if premiums actually went down relative to where they are today.”

So your current premiums? Still going up. Even the most optimistic are just hoping they won’t go up as fast. Which doesn’t make your insurance affordable, especially considering this legislation adds another $1 trillion+ to federal spending.



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