Americans rightly believe the goal of any health care reform bill should be make health insurance more affordable. This would certainly help Ms. Natoma Canfield, whose experience was discussed by President Obama in his visit to Ohio today.
The problem, which has been widely reported, is that Obamacare will not reduce the cost of health insurance premiums. Instead, according to the independent and non-partisan Congressional Budget Office, people like Ms. Canfield, who buy coverage on their own, would expect to see an average premium increase of 10 to 13 percent, under the bill soon to be voted on by the House.
This means that if Obamacare were fully implemented this year, Ms. Canfield’s health insurance premiums, which are nearly $8,500 this year, could cost up to $9,600, $1,100 more than if Congress did nothing. Alternatively, if the House Republican health reform bill were fully implemented, Ms. Canfield could save nearly $1,800 this year compared to Obamacare.
This is the exact reason the $1 trillion Obamacare bill needs to be sent back to the drawing board. The White House and Congressional Democrats need to start over and focus on commonsense reforms that make health coverage more affordable.