As a candidate for president, Barack Obama said: “I will sign a universal health care bill into law by the end of my first term as president that will cover every American and cut the cost of a typical family’s premium by up to $2,500 a year.” This promise was made many times.
During the debate over Obamacare, on June 15, 2009, the President stated: “If you like your doctor, you will be able to keep your doctor. Period. If you like your health care plan, you will be able to keep your health care plan. Period. No one will take it away. No matter what.”
If you believed these promises, prepare to be disappointed. In fact for thousands of Americans these promises have already been broken. Employers all over the country have cut full-time employees to part-time (defined as less than thirty hours under Obamacare) costing those employees their wages, or their health care, or both.
For the rest of us who haven’t yet been affected … get ready!
Obamacare was sold on one basic, obvious flaw. You can’t force insurance companies to offer additional services and then expect the price to go down. Insurance companies can no longer exclude applicants based upon pre-existing conditions, just to give one example. That change, though it makes for a fabulous political promise, comes at a price. Insurance companies know they will now be spending millions more on customers’ pre-existing conditions, and they will raise premiums to cover that expense. Obamacare is jam-packed full of new mandates on what now has to be included in a health insurance policy.
The bottom line here: health insurance premiums are going to go up, and they are going to go up a lot. In the coming months, pay close attention to any changes announced by your employer (or your insurer if you buy privately). It will likely be bad news.