They passed it, and sure enough, we're finding out what's in it. And, the news isn't getting any better for ObamaCare.
The following chart is from analysis by the Society of Actuaries (SOA). It tells the alarming story that under ObamaCare by 2017 insurance companies will have to pay out an average of 32 percent more for medical claims on individual health policies. That, of course, will quickly result in significant insurance premium increases.
Click on the image to view a full-size version of the infographic (PDF)
Reporting on the SOA analysis, the AP opined that the President could be in for a "big headache" as his signature legislation kicks in. "Obama has promised that the new law will bring costs down. That seems a stretch now," observed the AP.
The SOA analysis comes on the heels of another damning report issued just weeks ago that found premiums for young healthy men could triple under ObamaCare:
The federal health care law could nearly triple premiums for some young and healthy men, according to a forthcoming survey of insurers that singles out a group that might become a major public opinion battleground in the Obamacare wars.
The survey, fielded by the conservative American Action Forum and made available to POLITICO, found that if the law’s insurance rules were in force, the premium for a relatively bare-bones policy for a 27-year-old male nonsmoker on the individual market would be nearly 190 percent higher. Politico.com February 04, 2013
Doug Holtz-Eakin, President of the American Action Forum and former Director of the Congressional Budget Office, said the Obama Administration should be "very, very, very afraid." The country was told ObamaCare "was going to make health care cheaper."
For the record, here's just a few of those false promises:
Obama Repeatedly Promised That His Health Care Plan Would “Bring Down Premiums By $2,500 For The Typical Family.” (Sen. Barack Obama, Remarks Of Senator Barack Obama At Campaign Event, Raleigh, NC, 6/9/08)
Obama: “All this is going to lower premiums. It’s going to make healthcare more affordable.” (President Obama, Remarks At A Q&A Session, Falls Church, VA, 9/22/10)
Obama: “This law will lower premiums.” (President Obama, Remarks At The 2011 Families USA Health Action Conference, Washington, DC, 1/28/11)
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