5 Questions the President Should Answer About His Health Care Law
Despite spending more than $2 trillion on his health care overhaul, President Obama has failed to deliver on his promise to reduce the cost of health care. So, while the President may give ObamaCare a glowing review in his State of the Union address, the American people who have to pay for and live with ObamaCare have a few questions that deserve some answers:
Mr. President, why are my health insurance premiums going up?
- According to a report from the Centers for Medicare and Medicaid Services, once the ObamaCare Exchanges and Medicaid expansion take effect in 2014, private health insurance premium growth will increase 108 percent faster than what would have occurred prior to ObamaCare. Also in 2014, national health spending is projected to rise 39.6 percent faster than what would have occurred without ObamaCare.
- The New York Times recently reported health insurance premium hikes up to double digits in some states.
Mr. President, why am I losing the health insurance I have and like?
- The non-partisan Congressional Budget Office (CBO) recently reported it expects that 7 million Americans will lose their employer-based health coverage because of ObamaCare. Private, independent analysis have predicted as many as 65 million Americans could lose their employer-provided insurance.
Mr. President, why have many employers stopped hiring new workers and/or shifted full-time workers to part-time status?
- According to CBO, the number of workers in the labor force will be slashed by 800,000 by 2021 because of ObamaCare.
- According to a study by the Hudson Institute, ObamaCare’s employer mandate would put up to 2.3 million jobs at risk.
- As USA Today and The Wall Street Journal reported, many businesses plan to bring on more part-time workers next year, trim the hours of full-time employees or curtail hiring because of the new health care law.
- Seventy percent of small businesses cite the health care law as a major obstacle to job creation.
Mr. President, am I going to pay higher taxes as a result of ObamaCare?
- Estimates from the CBO and the Joint Committee on Taxation (JCT) confirm that the Democrats’ health law is a one trillion dollar tax hike on families and employers.
- The law contains 21 tax hikes, and more than half of those fall on the backs of Americans earning less than $200,000 per year for singles and $250,000 per year for married couples – a clear violation of the President’s pledge to avoid tax hikes on low- and middle-income taxpayers.
Mr. President, why is this law so difficult to understand and comply with?
- The burden of ObamaCare is already being felt, even though many provisions of the law, including the requirement for most Americans to buy government-approved health insurance or pay a tax, are not set to take effect until 2014. According to the Obama Administration’s own estimates, ObamaCare will require American job creators, families, and health care providers to spend over 127 million hours per year on compliance.