Surprise! Obamacare causes premiums to rise

In by Poor RichardLeave a Comment

Yeah, it’s time for another obligatory Obamacare is waaay more awful than anyone could have ever imagined post. But I wouldn’t do it if it weren’t true. And no, this isn’t some conservative think-tank statistic. It’s from the unbiased Kaiser Family Foundation:

Health insurance premiums shot up 9 percent this year, nearly three times the rate of inflation and the most since 2005, a new study shows

This year, the annual premiums paid out for employer-sponsored programs topped $15,000, according to Kaiser Family Foundation/Health Research & Educational Trust, which conducts an annual health benefits survey.

Average health care premiums rose to $10,944 for employers and $4,129 for workers for a total of $15,073.

At a time when economic news is gloomy, the rate of payment may seem troublesome. “This year’s 9 percent increase in premiums is especially painful for workers and employers struggling through a weak recovery,” Kaiser President Drew Altman said in a statement.

The rate of increase is faster than wage hikes and general inflation, which rose 2.1 percent and 3.2 percent, respectively. The figure has risen a whopping 113 percent in the last 10 years, according to Kaiser.

“The 9 percent increase in health insurance costs will make it harder for many families and employers to afford insurance, which may lead higher increases in the number of uninsured next year,”  Leighton Ku, director of the Center for Health Policy Research at The George Washington University

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As I’ve said before, my family and I lost our health insurance as a direct result of Obamacare. Shortly after its passage our premiums skyrocketed and we could no longer afford to pay it. So I know whereof I post. This bill must be repealed.