Happy Tuesday folks,
A new survey conducted by Morgan Stanley of 148 insurance brokers shows that “health insurance premiums are showing the sharpest increases perhaps ever,” according to Forbes’ Scott Gottlieb.
The spikes in cost are “in excess of 11% in the small group market and 12% in the individual market.” Morgan Stanley analysts concluded that the spikes “are largely due to changes under the ACA.”
Gottlieb noted that Four elements of Obamacare that have led to the increases are:
- Commercial underwriting restrictions,
- the age bands that don’t allow insurers to vary premiums between young and old beneficiaries based on the actual costs of providing the coverage,
- the new excise taxes being levied on insurance plans,
- and new benefit designs.
This unfortunate news comes as no surprise to the American people. It’s just another reminder that Obamacare is the wrong policy for the American people.
It raises costs, has kicked people off the plans that they liked, and continues to threaten Medicare Advantage, the popular program for seniors.
Middle-class Americans deserve policies that help reduce costs for everyday items like gas and groceries, as well as long-term expenditures like healthcare and higher education.
President Obama and his liberal allies in Washington are making it harder for hard-working families to make ends meet, so it’s crucial that conservatives enact sound policies that help people make life work better.
Seize the day.