One of the main reasons for enacting Obamacare was to bring down health care costs – so said the President, then-House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid. But since its passage, the sweeping overhaul of one-sixth of our economy has done just the opposite.
Those costs are evident already. “Health care costs are expected to increase by 8.5% in 2012 – slightly up from this year’s increase of 8%, according to the annual ‘Behind the Numbers’ report on medical costs recently released by [PricewaterhouseCoopers’] Health Research Institute,” says the online publication Small Business Trends.
Insurers are now forced to cover patients despite any preexisting conditions. They are also required to provide preventive services and cover children as their parents’ dependents up to the age of 26. The health care bill also scrapped annual and lifetime cap provisions, so if you get a rare form of cancer, you’ll have unlimited coverage regardless of the cost. According to news website The Daily Caller, “the day Obamacare hit the books one year ago, 150 new regulations immediately went into effect. Since then, 125 more regulations have gone into effect.”
All of this sounds wonderful, but someone has to pay. Every American who currently has health insurance in the U.S. will be forced to shell out higher premiums.Continue reading →