Despite President Obama’s assurances that his massive overhaul of the health care system would control health care costs and allow Americans to keep their current coverage, the outlook indicates otherwise.
According to a new study by PricewaterhouseCoopers we can look forward to – Higher Health Care Costs under Obamacare. Gee – what a shock.
Most of us are already seeing firsthand, or at least hearing about, the negative effects on personal finances. My husband and I are self-employed and our family’s health insurance premiums increased by 8% in 2010 and another 7% this year. Even with high annual deductibles and co-pays, it’s barely affordable. Many seniors I’ve talked to in the past few months have been experiencing reduced coverage and higher out-of pocket costs (from Medicare as well as pension-provided healthcare). And according to this cheery report it’s only gonna get worse.
Employers who offer coverage to their workers face growing uncertainty regarding costs under the new law. The negative consequences of Obamacare’s changes will be threefold: higher costs for those with employer-sponsored coverage; a greater debt burden on current and future taxpayers; and slower growth in job creation and the overall economy.