Mulready: Turns Out You Can’t Keep Your Health Insurance Rate Either
Rep. Glen Mulready: If you like your health insurance rates, you can’t keep those either
By REP. GLEN MULREADY
We all remember President Obama promising the American people that his health-care law, the Affordable Care Act, would “bend the cost curve down.” Unfortunately, nothing is further from the truth.
According to the Bureau of Economic Analysis, consumer health-care spending surged 9.9 percent in the first quarter of 2014, the highest rate of growth in more than three decades. This reflects both price increases and heavier utilization of health-care services by consumers. So, now that more people are covered costs should go down, right?
Not if the newly insured are unhealthy. Across the country, fewer young and healthy individuals have signed up for coverage on the exchanges than the unhealthy. Because the makeup of the health insurance risk pool now contains increasingly unhealthier, higher-risk populations, the cost of care for all has risen substantially.
The new ACA mandates and taxes also are driving premiums higher. In 2014, health insurance companies began paying a new tax mandated by the ACA: the Health Insurance Tax. This new tax will cost these companies $100 billion over 10 years and will increase by almost 50 percent in 2015 alone.
This is SO SLANTED to the right it’s leaning. If you want want a joke listen to FOX news.