Report: Obamacare causing insurance prices to skyrocket

posted at 7:21 pm on April 8, 2014 by Kevin Glass

Scott Gottlieb, a resident fellow of the American Enterprise Institute, is out with his latest estimates of how Obamacare is affecting health insurance premiums around the country. Though the employer market is difficult to calculate and data is hard to come by, he’s made estimates for the small group and individual markets.

If you’ve felt like your insurance has gotten more expensive, well, you’re right: Gottlieb estimated an 11% increase in price in the small group and a 12% increase in the individual market. And it looks like it’ll keep getting worse.

This doesn’t look great for price-sensitive Americans who have feared that Obamacare will ruin the market for insurance – and certainly runs counter to the trumped-up claims from the Administration that Obamacare is engineered to lower insurance prices.

In 2009, the Congressional Budget Office forecast what insurance premiums would be in 2016 due to Obamacare. They found that in 2016 we should have expected a 10-13% increase in the individual market, which means that prices need to freeze right now for that to come true. It’s unlikely to be the case. What’s more, though, they predicted no change for the small-group market. Prices have skyrocketed there, and show no signs of slowing down.

Obamacare was sold to the American people on a boatload of broken promises, and it looks like we can toss “bend the cost curve” and “lower premiums for the average family by $2500″ onto the bin of lies.


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“What difference at this point does it make?”–HRC

Bishop

bimmcorp on April 8, 2014 at 7:24 PM

That picture is great. Please use that for all Obamacare posts in the future.

bluegill on April 8, 2014 at 7:28 PM

So Hussein lied … What difference, at this point, does it make?

Whitey Ford on April 8, 2014 at 7:28 PM

The question is, and to be honest I don’t know the answer, how many of the Democrats constituencies are going to feel this pain? How many of their constituency went on Medicaid? Is Medicaid going to be effected by this price hikes?
The game is rigged, but it wasn’t rigged well enough so the pain won’t be felt before the election.

bflat879 on April 8, 2014 at 7:29 PM

Duh.

ss396 on April 8, 2014 at 7:36 PM

Report: Obamacare causing insurance prices to skyrocket

And water is wet..

Next!!!!

Electrongod on April 8, 2014 at 7:38 PM

Obamacare was sold to the American people on a boatload of broken promises bald-faced lies.

Edited for accuracy.

AZCoyote on April 8, 2014 at 7:40 PM

bunch of racists.
/lib_mode_off

dmacleo on April 8, 2014 at 7:41 PM

…”won’t cost you one thin dime!”

KOOLAID2 on April 8, 2014 at 7:42 PM

Nobody is surprised, right?

If nobody was surprised, Obama wouldn’t have been reelected.

The uproar over the advent of Obamacare has been a boon for conservatives and Republicans (or at least one of the two) electoral prospects, but the one thing that it has taught us is that yes, low information voters really are that stupid.

HitNRun on April 8, 2014 at 7:50 PM

$2,500 savings per year…what a phuck phool.

oldroy on April 8, 2014 at 7:52 PM

Affordable, affordable, affordable.

Flange on April 8, 2014 at 7:55 PM

Wait until next year when they realize not near enough youngins signed up. They will have to make up for that lost money. Also, hold your wallets as you get to bail out some of the insurance companies.

CW on April 8, 2014 at 7:59 PM

If you listen carefully you can hear everdiso soiling herself.

Chuck Schick on April 8, 2014 at 8:14 PM

That’s why it’s critical to grab the senate. We can attach a repeal of the risk corridor (bailout) provisions to a debt ceiling increase.

Obama cannot veto this. Without the bailout, insurers will flee the exchanges and obamacare collapses.

But we must have the senate first.

matthew8787 on April 8, 2014 at 8:18 PM

The average increases are in excess of 11% in the small group market and 12% in the individual market. Some states show increases 10 to 50 times that amount. The analysts conclude that the “increases are largely due to changes under the ACA.”

We need analysts to figure this out?

lynncgb on April 8, 2014 at 8:23 PM

We need analysts to figure this out?

lynncgb on April 8, 2014 at 8:23 PM

Verbal-disco will figure it out with a leftist co-dependent-phalic devise.

oldroy on April 8, 2014 at 8:30 PM

Dammit!

If only someone had tried to warn people about this before they pas…

…oh…wait.

…serves people right. dumbasses.

a5minmajor on April 8, 2014 at 8:31 PM

Uum, these increases are for insurance which was not purchased on the state and federal Obamacare exchanges. The prices for exchange products are also expected to increase, but not stating that is a significant omission.

http://finance.yahoo.com/news/health-insurance-14-5-million-100000231.html

jim56 on April 8, 2014 at 8:40 PM

Still waiting for some low information leftists (i.e. indoctrinated dumba$$) to point out one single argument the smart people (i.e. conservatives/Tea Party) had against Obama-democrat Care that has been proven wrong.

Just. One.

jukin3 on April 8, 2014 at 8:59 PM

As I recall, about two thirds of the electorate was against Obamacare before it passed. The main supporters were some of the insurance companies and all the professional democrats. Naked party politics power grab.

Kevin K. on April 8, 2014 at 9:00 PM

There are NO PREMIUMS for Obamacare: Obamacare is a TAX!!!

This is why the Democrats and bureaucrats defend Obamacare so jealously: the Obamacare TAX pays their salaries!!!

Obamacare was never intended to provide actual health care to anyone: it serves only as a “false flag” for the biggest tax in history!!!

If you happen to receive actual health care at some time in the future, it WON’T be because of Obamacare: it will be in spite of Obamacare!!!

landlines on April 8, 2014 at 9:17 PM

jim56 on April 8, 2014 at 8:40 PM

Too bad you didn’t read the whole report.

A report released by PwC’s Health Research Institute found that the average cost of premiums sold on the Obamacare exchanges is about $5,844 annually —or 4 percent less than the average cost of $6,119 for an employer-provided plan with comparable benefits.

Meanwhile, a HealthPocket.Inc study found the average individual deductible for Obamacare’s bronze plan was $5,081 a year—42 percent higher than the average deductible of $3,589 for an individually purchased plan.

Premiums on exchange plans are also likely to increase next year. The Hill reported that industry insiders are expecting premium prices to increase significantly—in some states by as much as 300 percent—all depending on a combination between the final mix of enrollees and new taxes imposed under the new law.

Barred on April 8, 2014 at 9:17 PM

Obamacare working as intentionally planned.

Varchild on April 8, 2014 at 9:20 PM

Uum, these increases are for insurance which was not purchased on the state and federal Obamacare exchanges. The prices for exchange products are also expected to increase, but not stating that is a significant omission.

http://finance.yahoo.com/news/health-insurance-14-5-million-100000231.html

jim56 on April 8, 2014 at 8:40 PM

jim56 on April 8, 2014 at 9:27 PM

Keep voting democrat!

Straight ticket!

Murphy9 on April 8, 2014 at 9:27 PM

All these years later jimbo3 is still a true believer and obamacare propagandist.

Murphy9 on April 8, 2014 at 9:28 PM

jim56 on April 8, 2014 at 9:27 PM

Your right. They should have included the estimate for the rise of the exchanges……

Premiums on exchange plans are also likely to increase next year. The Hill reported that industry insiders are expecting premium prices to increase significantly—in some states by as much as 300 percent—all depending on a combination between the final mix of enrollees and new taxes imposed under the new law.

Barred on April 8, 2014 at 9:46 PM

Uum, these increases are for insurance which was not purchased on the state and federal Obamacare exchanges. The prices for exchange products are also expected to increase, but not stating that is a significant omission.

http://finance.yahoo.com/news/health-insurance-14-5-million-100000231.html

jim56 on April 8, 2014 at 8:40 PM

jim56 on April 8, 2014 at 9:27 PM

Doesn’t matter jimbo, all the increases are because of the piece-of-crap Obamacare, which all policies have to be compliant with whether sold on Healthcare.gov or directly through the insurer.

slickwillie2001 on April 8, 2014 at 10:36 PM

Obamacare was sold to the American people on a boatload of broken promises

Everything on the progressive agenda is sold on a boatload of lies and broken promises. Including when they claim it’s based on science.

The shame is, that is not hyperbole. It is literally true. And not just Joe-Biden-literally.

There Goes the Neighborhood on April 9, 2014 at 12:18 AM

Uum, these increases are for insurance which was not purchased on the state and federal Obamacare exchanges. The prices for exchange products are also expected to increase, but not stating that is a significant omission.

http://finance.yahoo.com/news/health-insurance-14-5-million-100000231.html

jim56 on April 8, 2014 at 8:40 PM

It’s exactly as it was stated to be, complete with a link to the full story. Implying there was some significant omission is a lie.

Gee, I wonder why Kevin Glass didn’t include insurance bought on the exchanges in the comparison? Maybe because the story was about how much insurance preimums were rising in a year, and insurance bought on the exchanges didn’t exist last year? Makes it a little hard to do a year-by-year comparison when you only have one year to work with….

Seriously, here is a story about the gross dishonesty of Obamacare claims, and you … accuse the author of being the one who is dishonest.

There Goes the Neighborhood on April 9, 2014 at 12:32 AM