Wednesday, June 12, 2013

Obamacare is working as intended

Rates are up in Maryland and way up in Ohio and Rhode Island. California claimed rates would not rise, but they were comparing today's individual rates to Obamacare group rates - apples to oranges.

But this is expected. First, insurance is required to cover more. Copays and deductibles are limited. No life-time limited. Preexisting conditions must be covered. And the young who don't see a need for insurance are forced to buy it to subsidize the expensive old. The architects of Obamacare knew rates would rise.

And if that weren't enough Obamacare adds new taxes. See below. Increases in insurance premiums were intended. It is working.


But ObamaCare also adds various taxes and fees that everyone knows will raise premium costs. Among other things, it imposes a $100 billion tax on health insurance providers that will simply get passed on to individuals and small businesses in the form of higher premiums.

Then there's the 3.5% fee the government plans to impose on insurers selling in federally run exchanges and the $20 billion hit to medical device makers that will end up coming out of consumers' pockets.

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