According to a recent BNA story, at the 17th Annual “Wall Street Comes to Washington,” a non-political event in which experts discuss future health care trends, a managed care analyst for Citi Investment Research and Analysis predicted that health insurance premiums could increase by more than 100 percent because of ObamaCare. Specifically, Carl McDonald, Director and Senior Analyst for the group warned, “You’re looking at, for [the] individual market, somewhere between 20 and 30 percent average individual [premium] increases in 2014. You’re going to have situations where some people are faced with 100 percent-plus rate increases in —the young, healthy population.”
This is a far cry from President Obama’s promise to reduce family premiums by $2,500. American families, particularly in a weak economy where costs are high and jobs are scarce, cannot afford to see their premiums more than double overnight. Making matters worse, Americans will now be forced to buy government-mandated health insurance at the same time ObamaCare is making insurance more expensive.
This is yet another reason why ObamaCare needs to be repealed and replaced with common sense reforms that actually reduce the cost of health insurance.