Advocacy

SOTU – Obamacare Driving Costs Down? Not True!

 

By Andrew Stiles –

Already, the Affordable Care Act is helping to slow the growth of health-care costs,” President Obama said during last night’s State of the Union address.

Well, not exactly.

The Congressional Budget Office projects that health-care spending will grow rapidly when provisions of Obamacare are fully implemented by mid-decade, reaching 6.2 percent of GDP in 2023.

Health-care premiums have already increased by more than $3,000 on average, (Obama promised the law would reduce premium costs by $2,500), a figure expected to get worse in coming years once major provisions of the law go into effect.

At the end of 2012, Mark Bertolini, the CEO of Aetna, the third-largest health insurer in the country, warned that many consumers would face “premium rate shock” with the advent of Obamacare’s major insurance regulations in 2014. He predicted that unsubsidized premiums would rise 20 to 50 percent, on average.

For some people, premiums would double. “We’re going to see some markets go up as much as 100 percent,” Bertolini told Bloomberg News.

For young Americans, premiums could increase by nearly 190 percent, according to a survey by the American Action Forum.

Furthermore, the Treasury Department, which recently released its annual Financial Report of the U.S. Government, estimated that even under Obamacare’s most favorable assumptions, health-care costs will continue to rise over the coming decades, adding trillions to the federal budget deficit:

Increased spending for Social Security and health programs due to continued aging of the population and anticipated rising health costs is expected to cause the primary deficit-to-GDP ratio to steadily deteriorate. . . . There is uncertainty about the effectiveness of the ACA’s provisions designed to reduce health care cost growth. Even if those provisions work as intended and as assumed in these projections, Chart 5 still shows a persistent gap between projected receipts and total non-interest spending.

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15 Comments on "SOTU – Obamacare Driving Costs Down? Not True!"

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PaulE
3 years 7 months ago
Virtually everything Obama said in the SOTU was a lie. Then again, he lies in almost every speech, so this shouldn’t come a a shock or surprise to anyone. The CBO has already estimated the true deficit cost of Obamacare over its first 10 year period to be $2.8 trillion dollars. That’s up from the original, overall rosy and artificially jiggered deficit of $900 billion on the date Obamacare was signed into law. So in the space of only two years, the cost factor has already tripled. By the time the government gets around to analyzing all the cost structures associated with the actual implementation of Obamacare, I wouldn’t be surprised to see the real costs go above $4 trillion in the first 10 years. Government has always low-balled the real cost of every program it has ever proposed and Obamacare is no different. When Obama says any of his… Read more »
Les Siegel
3 years 7 months ago

Every thing he says is a lie. My Blue Cross premium went UP on January 1st 2013, my copays went up, and some of my medications are no longer coverd.There is a shortage of doctors that is getting worse. After all who wants to spend all that time and money to enter a profession that will be controled by the government, and is not going to be financialy rewarding ?

PaulE
3 years 7 months ago
Remember Obamacare isn’t about healthcare. It’s about social justice and political ideology. Obamacare is merely a means to an end. In order to force the European version of healthcare down Americans’ throats, with all the horrible outcomes that such a system entails, first he has to destroy the current medical system. When the doctor shortages and healthcare premium costs become painful enough to most Americans, that’s when Obama and the Democrats will propose the solution of European-style single payer model. The idea seems to be to cause such an outcry from the public, that they will accept, without thinking, the very proposal Obama and the Democrats wanted to force on us all along. To answer your second question, very few will want to enter the medical field if they’re essentially just going to be highly regulated, poorly paid (relative to their current incomes) civil servants. Those that will be attracted… Read more »
The "E" Man
3 years 7 months ago

I blame the downfall of this Country on the parents who refuse to teach their kids about responsibility and allow thier kids to be indoctrinated by liberal teachers/professors. There is too much selfishness. Me Me Me and if it sounds good then Im for it attitude. No one checks facts, they believe the crap they see and hear in the Lame Stream Media. Its not until they get bitten in the ass by something they wake up then complain. Remember, when you are not and refuse to stay informed you get what you vote for.

WAKE UP AMERICA WE ARE IN TROUBLE!!!!!!!!!

John Gorman
3 years 7 months ago

I wonder why Pres Obama is allowed to say anything that comes into his head or makes him look good. His words and promises seem to NEVER be brought to reality. At the end of his term someone should list all his false statements and outright lies.

He might go down in history as the most dishonest person ever to occupy the W.H. Does the MSM like acting as an enabler? They by their very inaction are also losing any integrity or creditability they may have had. Institutionalized falsehoods were used by Communist governments and their “newspapers” to remain in power. History repeating itself??

PaulE
3 years 7 months ago

Hi John,

The MSM are proud to be enablers of this lying president. Most of the MSM actually agrees 100 percent with his proposed policies, so they are more than willing to give him a pass when he goes on national TV and lies from start to finish. Only one or two news outlets offer news that is not filtered through the WH press office.

itsfun
3 years 7 months ago

Why wait until the end of his term? Do it now.

KCollie
3 years 7 months ago

Obama’s lies are constantly being exposed on conservative outlets. The left doesn’t seem to care.

itsfun
3 years 7 months ago

Why would they care? They get all services free with him. Housing, food, health care, etc. They will not do anything to stop that. The food stamp president just keeps on telling lies and left keeps on getting free stuff, while working families pay for that free stuff.

Tracy
3 years 7 months ago

Who else does Obamacare NOT apply to?

Lee McNutt
3 years 7 months ago

There are a great many “scribes” that have explained the Health Care Bill. It boils down to another method of taxing the working class.This bill does not apply to Congress.They have their own health care plan.The “Obama care” plan should be repealed.

PaulE
3 years 7 months ago

Yes, it does nothing to improve healthcare and is nothing more than a series of additional taxes to expand the federal government. However, at this point there is no way to repeal this very bad law.

FOTH
3 years 7 months ago

Shirely Krone wrote: “Is there any way any of Obamacare can be reversed in the future?”

Yes, there is. But the longer the cancer becomes embedded and the deeper into our civic body its tentacles get the more diffuclt the removal will be. But it needs to be removed and I personal think it will be. I’m not optimistic that it will happen soon and I know it won’t be easily done.

Shirley Krone
3 years 7 months ago

Is there any way any of Obamacare can be reversed in the future?

PaulE
3 years 7 months ago

Sorry Shirley, the answer is no. The election last year was the last opportunity to stop Obamacare before implementation started. As of January 1, doctors and hospitals have been receiving mandated changes that must comply with for Obamacare. Same for insurance companies and I expect medical device makers and drug companies have already started to change their internal practices and long-term planning to account for Obamacare. Meanwhile, the federal government has been very busy staffing up to handle the regulatory and compliance issues associated with Obamacare.

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