Forbes Online has this previously released story about the rising health premiums for Californians:
“[F]or the typical 25 year old male non-smoking Californian,” Roy added, “Obamacare will drive premiums up by between 100 and 123 percent.” For a 40 year old male non-smoker” Obamacare will increase individual-market premiums by an average of 116 percent.” Roy summarized, “For both 25-year-olds and 40-year-olds, then, Californians under Obamacare who buy insurance for themselves will see their insurance premiums double.” That is a conservative understatement of his actual results.
Barack Obama campaigned for President not on the intellectually honest position that “Obamacare will cost more, but it would be worth it,” but instead on the intellectually dishonest position that it would reduce the cost of health insurance, while covering everyone. Peter Suderman correctly reported on MSNBC on June 4 that during Obama’s first campaign, the candidate’s position was that under his health reform plan, “If you already have health insurance, the only thing that will change for you under the plan is the amount of money you will spend on premiums. That will be less.” Suderman added, “On the campaign trail in 2008, Obama continued to sell the [reform] as a way to lower health premiums, promising at least 15 times to reduce health premiums for families by $2,500 on average.”
I have used the term “Calculated Deception” to refer to Obama’s strategy of rhetorical deception, taking advantage of what Obama shrewdly perceives that the average person will not understand, and what the “mainstream” Democrat Party controlled media will not tell him. That pledge to reduce the cost of health insurance by $2,500 per family was calculated deception that is being exposed as such right now.
But such Calculated Deception amplified in the Democrat controlled media echo chamber just renders our democracy confused and dysfunctional.
Again, Forbes on the rise of premiums in Ohio:
The rates that Ohio reported are proposed rates; the Department of Insurance still has to formally approve them. “A total of 14 companies proposed rates for 214 plans to the Department. Projected costs from the companies for providing coverage for the required [by Obamacare] essential health benefits ranged from $282.51 to $577.40 for individual health insurance plans.”
It’s called “rate shock,” but it’s not shocking to people who understand the economics of health insurance. In August 2011, Milliman, one of the nation’s leading actuarial firms, predicted that Obamacare would increase individual-market premiums in Ohio by 55 to 85 percent. This past March, the Society of Actuaries projected that the law would increase premiums in that market by 81 percent. Like good players on “The Price is Right,” they both came in just under the Dept. of Insurance’s figure.
The Laffer Curve being applied to Obama-Care: