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Affordable Care Act ain’t Affordable

Posted by Steve Markowitz on August 27, 2015

Since his first election, Barack Obama has made the Affordable Care Act (ACA) his signature legislation.  While there were many claims made concerning ACA’s suppose it benefits, one repeated by the President in May 2008 claimed it would save the average American family $2,500.  This claim had little basis in reality, but was required to gain the support necessary to have the legislation pass.

The Wall Street Journal recently published information about 2016 rate increases for healthcare provided under ACA exchanges.  The increases include:

  • Tennessee – 36.3%
  • Kentucky – 25.1%
  • Oregon – 25.6%
  • Idaho – 23%
  • Ohio – 14.5%
  • Michigan – 11.4%

While not all states’ exchanges will see the significant increases listed above, the evidence indicates that the ACA is causing cost increases, not the decreases for the average American family promised by the President.  This is of little surprise.  The ACA added significant benefit requirements to healthcare plans, as well as millions of uninsured Americans being covered under it.  To expect this to lead to cost decreases goes beyond stupidity.  However, this is not to imply that Obama lacks intelligence.  In fact, it is likely that he was well aware of the financial implications of ACA, but purposely misled the American people on this issue.

The American people are not blameless in this sleight-of-hand economics orchestrated by President Obama concerning healthcare reform.  The implications of increasing benefits and the number of people covered should have been obvious to any who supported this President and his legislation.  Unfortunately, it is too late to put this genie back in the bottle.

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