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Tipsheet

The "Affordable" Care Act Raised A Family's Average Premium Cost By $5,000

On Monday, it was announced that premiums for plans sold on HealthCare.gov, the government website for Affordable Care Act plans, will see a nearly 25 percent increase for next year. This, of course, shouldn't come as too big of a shock, considering that premiums have risen by nearly $5,000 since the "Affordable" Care Act was passed.

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In 2008, the average health insurance premium cost a family about $12,680 every year. Now, after the passage of the Affordable Care Act, the average premium cost for a family has ballooned to $17,500.

As a reminder, one of the selling points of the law was that it was going to significantly lower premiums.

To which Sen. Ted Cruz (R-TX) had an impressively snarky take on:

Yikes.

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