Brutal: Obama vs. reality on Obamacare costs for small businesses
posted at 11:33 am on February 26, 2014 by Guy Benson
Via the Libre Initiative, here’s America’s Liar of the Year (not my words!) doing his thing in October of 2009. In a speech peddling Obamacare to small business advocates, the president warmed up with his shattered “keep your plan” vow before enthusiastically touting the glorious ‘affordability’ that awaited exchange participants:
“What we will do is make the coverage that you’re currently providing more affordable…You’ll be able to get better deals than you could have ever received on your own. In fact, small businesses that choose one of the plans in this exchange could save 25 percent on their premiums by 2016.”
The operation of said magical exchange, by the way, was just delayed for the second time, for another full year — with many small businesses being offered a single “option.” And now, 2014’s reality check, via — er — the Obama administration:
Nearly two-thirds of small businesses that currently offer health insurance to their workers will pay more for coverage as a result of new rules in the health care law, as will millions of small-business employees and their family members, according to new estimates released by the Obama administration…”We are estimating that 65 percent of the small firms are expected to experience increases in their premium rates while the remaining 35 percent are anticipated to have rate reductions,” CMS’ Office of the Actuary wrote in a new report.
These looming rate increases will compel many employers in the small group market (whose businesses fall below the employee thresholds established in the again-postponed employer mandate) to simply drop coverage for their workers. Experts — including those within the administration — have projected that tens of millions of American workers will ultimately lose their existing employer-based coverage due to Obamacare. Those employees will be shuffled into the individual market, where many will choose between paying significantly more for health insurance and forking over mandate-tax penalty payments to the IRS for the privilege of being uninsured. You’ll recall that White House officials have repeatedly assured consumers within the employer-based market that the recent furor over canceled plans “doesn’t apply” to them. “They don’t have to worry about, or do, or change anything,” Jay Carney told reporters in late October. According to the administration’s own numbers, that’s not even close to being accurate. This crew simply lies about Obamacare. Period.