Remember when President Obama promised his health care law would “bring down health care costs by $2,500 for the typical family?” Well, the so-called ‘Affordable Care Act’ “is looking a bit unaffordable” (to put it mildly) for all those Americans facing much higher premiums under the law. Promise broken.
An analysis out today by National Journal finds that “for the vast majority of Americans, premium prices will be higher in the individual exchange than what they’re currently paying for employer-sponsored coverage.” As more and more employers signal plans to drop health coverage under the law, Americans forced into the individual market could see their premiums double, skyrocketing an average of nearly 100 percent according to a House Energy Commerce Committee report.
For the small business employees lucky enough to keep their coverage, the news isn’t much better. “As rates soar” for small businesses, the Washington Post reports, “many appear to be coping by passing some of the costs along to their employees.” The Post cites a new Kaiser study that finds small business employers are already “asking workers to pay much more for their care,” and worry that the president’s health care law will drive “rates higher at an even faster pace” in the years ahead. Insurance companies have already warned small business owners to expect premium increases of 20 percent or more, “making some owners consider not paying for coverage” at all, says the Associated Press.
From South Carolina to California and points in between, millions of Americans will be paying more under ObamaCare, at a time when budgets are already stretched thin by the new normal of slower growth, higher energy prices and fewer full-time jobs. That’s why House Republicans have taken action to protect all Americans by delaying the ObamaCare mandates on employers and individuals, and passed several bills, seven of which the president himself has signed, that dismantle or defund other parts of this train wreck.
That effort will continue under House Republicans’ Plan for Economic Growth Jobs, which calls for repealing ObamaCare and enacting a step-by-step, common-sense approach to health care reform that starts with lowering costs. In an op-ed on Fox News yesterday, House Energy Commerce Committee Chairman Fred Upton (R-MI) highlighted several Republican solutions that would improve care, lower costs, and protect jobs. Read about them here and learn more about the Republican jobs plan at gop.gov/jobs.