Wednesday, September 08, 2010

Medical insurance prices rising due to ObamaCare

Insurance companies are telling regulators that Obamacare is forcing price increases. The Wall Street Journal explains which provisions in ObamaCare are causing this to happen now:

Democrats front-loaded the legislation [ObamaCare] with early provisions they hoped would boost public support. Those include letting children stay on their parents' insurance policies until age 26, eliminating co-payments for preventive care and barring insurers from denying policies to children with pre-existing conditions, plus the elimination of the coverage caps.

Weeks before the election, insurance companies began telling state regulators it is those very provisions that are forcing them to increase their rates.

Democrats I know get furious when someone suggests that Democrats think money grows on trees. If they don't think money grows on trees, who did they think was going to pay for the costs of these new policies?

PREVIOUSLY on the subject of Obamanomics and how it differs from economics:
Laws of Economics 1; Obama 0
Why Liberal economics fails: redistribution does not create wealth (Illustrated)
Obamacare endangers student health
Why business isn't hiring
Dodd-Frank finance "reform" bill stops bond market cold
Why unemployment insurance must be extended (illustrated)
Obamanomics still failing, Washington Post discovers
Russia goes supply-side
Study: Liberals are economically illiterate
Obama's health care and economic policies explained
Obama modeling US economy after Europe's
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Obamanomics prolonging the recession
US Aaa bond rating threatened by Obama's budget says Moody's
Obamanomics illustrated II
How Dems are prolonging the recession
How Obamanomics destroys jobs
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Deficits: Obama goes where no man has gone before (illustration)
How to raise the standard of living
Obama's anti-intellectual economic theory
Obamanomics and the test of science
Obamacare may raise insurance costs by 54%
Harvard economist explains why Obamacare will raise premiums
HHS says Obamacare will cause costs to go up and cause employers to drop coverage

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