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Sticker Shock: Obamacare Doubling Many Americans’ Health Insurance Rates

Obamacare sticker shock

Image source: Politico.com

The implementation of Obamacare will significantly increase health insurance premiums for many Americans, often doubling what they paid in the past.

To make matters worse, some individuals are reporting significant increases in copays and even cuts in service. Worst of all, there seems to be no logic or pattern to the increases. Some examples of what’s happening include:

Subsidies are part of the law, but they apparently don’t make up the difference for the majority of Americans.

“Most people will not receive enough in subsidies to counteract the degree to which Obamacare drives premiums upward,” Avik Roy wrote. He further said that “middle-class Americans face the double-whammy of higher insurance premiums, and higher taxes to pay for other people’s subsidies.”

The data seems to contradict a statement made by President Obama in 2012: “You should know that once we have fully implemented, you’re going to be able to buy insurance through a pool so that you can get the same good rates as a group that if you’re an employee at a big company you can get right now — which means your premiums will go down.”

Price Increases Vary Widely from State to State

Obamacare’s effect on health insurance prices varies widely from state to state, Roy noted. The Manhattan Institute’s research [4] indicates that premiums will rise in some states and fall in others. To make matters worse, the effects are different for men and people of different ages.

Learn How to Save Thousands of Dollars on State-of-the-Art Treatment Abroad [5]

Some of the findings include:

A map from the Manhattan Institute [4] and Forbes  breaks the effects of Obamacare on individual health insurance policies down by state. Unfortunately, information for only a few states is available, but it appears that in most states rates will increase.

The new law has forced unwanted changes nationwide. As previously reported by Off The Grid News [6], hundreds of thousands of New Jersey residents recently received letters informing them that their health insurance [7] plan would not exist after the first of the year. Why? Because their current plants don’t cover all the benefits mandated by Obamacare.

Obamacare Survival [8]