By Tom Quiner
My wife and I own a small business. We carry a high-deductible health-savings account (HSA). To hold down the price of premiums, we essentially pay the first $5000 of our medical expenses.
I just got word that our premiums are going up another $600 this year on top of the $700 spike last year.
I’m paying $1300 more a year for health insurance since the Democratically-controlled Congress passed Obamacare.
Candidate Obama promised he would lower annual family health insurance premiums by $2500 by the end of his first term.
In fact, annual premiums have increased $2200 since he became president according to the Kaiser Family Foundation.
I guess I should consider myself lucky. My premiums haven’t gone up as much as most, but that is become I essentially self-insure my first $5000 of coverage.
Why did Mr. Obama push so hard to pass what turned out to be the signature, if dubious, accomplishment of his presidency?
In addition to his claim that he would lower our premiums, he said the program would save the taxpayers money. The Democratic Triumvirate of Obama/Reid/Pelosi cooked the books when they presented their plan to the Congressional Budget Office (CBO) for financial scrutiny.
Based on assumptions they were compelled to accept, the CBO said Obamacare would reduce the federal deficit by $143 billion in the first ten years.
Speaker Nancy Pelosi said we would have to read the 2000 + page document to learn what was in it.
As the bill was scrutinized after the fact, the truth came out. Obamacare is a sham.
Team Obama acknowledged that long term care component of the bill, called the Class Act, was financially unfeasible. They pulled it.
In his 2013 budget, Mr. Obama inserted an extra $111 billion in spending to help subsidize the law’s health insurance exchanges. So the price tag for the entire Obamacare boondoggle has just about doubled from what they promised it would cost. And what was that?
$940 billion over the decade.
And what does the CBO tell us it is going to cost us now that they’ve read what it really says?
$1.76 trillion (this is the current number, but it keeps getting revised upward).
Watch the video above from American Doctors 4 Truth for an entertaining explanation of the problems of Obamacare.
It gets worse. Mr. Obama said we could keep our existing policy if we preferred. It’s not working out that way. Companies are pulling out of the health insurance business because Obamacare limits how much profit they can make. Even more, a study by McKinsey & Co. last year reveals that up to half of employers plan to stop offering health insurance once Obamacare is fully implemented.
Key promises of Obamacare have been broken.
In light of the impending fiscal carnage of this bill; in light of the overwhelming unpopularity of the bill; in light of the infringement on our religious liberties imposed by this bill, there is but one logical action: repeal it.
Let’s start over and craft a bi-partisan, market-driven piece of legislation.
Obamacare has already failed.