Health Insurance: Then and Now

The promise: health insurance costs will go down

“Under [our] plan, if you like your current health insurance, nothing changes, except your costs will go down by as much as $2,500 per year,” said Obama in 2008.

The result: health insurance costs will triple.

[T]he Office of the Actuary in the Centers for Medicare and Medicaid Services … finds that growth in the net cost of health insurance will increase by nearly 14 percent, compared to 3.5% if PPACA had never passed. The growth rate of private insurance premiums will rise to 9.4 percent, from 5.0 percent under prior law: an 88% increase.

See Avik Roy here and our previous post on this subject, with CMS chart.

Comments (9)

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  1. Virginia says:

    Yep. To be expected with 9,000+ pages of new regulations.

  2. Tom H. says:

    Agree totally.

  3. Bruce says:

    Any one who believed the promise deserves to get hosed.

  4. Stephen C. says:

    Ditto Bruce.

  5. Kartik says:

    I wonder what Brian will say on this.

  6. Carolyn Needham says:

    Any response from the Administration on this…?

  7. Buster says:

    The Affordable Care Act is designed to pool healthy people with those that have chronic health conditions or poor health status. Yet, the architects of the ACA make the implausible assumption that in the absence of a competitive marketplace insurance rates would magically fall once healthy people are required to cross-subsidize those with health problems. I cannot figure out why anyone would make such an assumption.

  8. Mika says:

    The new regulation is just too much of a rotten system.

    Nose Reshaping in Thailand

  9. KG says: