Dec 30, 2015
Obamacare Realities: Higher Costs, Fewer Choices, Millions of Lives Disrupted
Post by Freedom Partners
Freedom Partners Executive Vice President James Davis tells in The Hill newspaper how the Affordable Care Act has turned the holiday season into the “season for giving bad news.”
The ‘Affordable’ Care Act, another Christmas bah-humbug
‘Tis the season for giving—and for the Affordable Care Act, it’s become the season for giving bad news. For the third year in a row, open enrollment has given millions of hardworking Americans news that their health insurance will have higher premiums, fewer choices, and more out-of-pocket costs—if their insurance will even exist after the holidays are over.
But this sad reality won’t be found in the flowery rhetoric of the law’s supporters. From President Obama to Hillary Clinton to many candidates for both the U.S. Senate and House, politicians are claiming the law is a smashing success. This might make for a good stump speech for the base, but these claims carry huge political risks: They sound woefully disconnected from the struggles millions of Americans are suffering under this law.
Those struggles are both economic and social. According to consulting firm McKinsey & Company, the median premium increase for the lowest-cost plans will range between 10 and 13 percent across all tiers next year—bronze, silver, gold, and platinum. That’s up from and on top of this year’s 7 to 10 percent increases. Premiums are projected to continue rising in the years ahead.