Wednesday, March 27, 2013

Obamacare to cause 32% raise in healthcare costs; Administration defends

The Washington Guardian reports price increases coming as a result of Obamacare:
In a report that could prove a big political headache for the administration, the Society of Actuaries estimated Tuesday that insurers will have to pay out an average of 32 percent more for claims on individual health policies under the Affordable Care Act,  a cost likely to be passed on to consumers.
In response, the Obama administration questions that conclusion, though, claiming that higher costs will be offset by . . . , well, . . . you have to read it to believe it:
The administration questions the design of the study, saying it focused only on one piece of the puzzle and ignored cost relief strategies in the law such as tax credits to help people afford premiums and special payments to insurers who attract an outsize share of the sick.
Obama may think that money grows on trees but the rest of us know that those credits and subsidies will ultimately be paid for by the only place that the government gets its money: taxpayers.  So, the administration's plan is to offset higher insurance costs by raising taxes!

If Obamacare wasn't such a disaster, it would be easier to enjoy the comic relief provided by its defenders.

Of course, it is a disaster.  The future of Obamacare is clearly seen in the "harrowing neglect and abuse" (click for BBC story) that the British experience daily under their National Health Service.

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