Thanks, Obama: How much will your premiums increase?

Read this concise summary from AMAC about Obamacare premiums and the effect of the disastrous law on the economy. 

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SOURCE: AMAC blog

WASHINGTON, DC, July 3 – The media focus on the Iraqi crisis has created a ‘fog of war’ that has obscured a series of reports in recent weeks on the damaging impact of Obamacare on health care insurance rates, in particular, and the economic recovery, in general, according to Dan Weber, president of the Association of Mature American Citizens.

“It took Monday’s Supreme Court ruling that the law cannot force privately held companies to provide insurance coverage for contraceptives and abortion inducing devices to restore public attention.  But while we were looking the other way, there were several revelations regarding the economic impact the law will have on individuals and the nation—including looming health insurance rate increases.”

Weber said: “Some lucky policyholders will see health insurance rate increases of only 10%, more or less.  Those who aren’t so lucky will see hikes of 15% and 20%.  And then there are the really unlucky ones who will have to swallow surges of 25% or more for coverage.”

In addition, he reported, it has come to light that there’s a hidden levy built into the law that affects everyone who pays income taxes.  “The administration has claimed that more than 8 million people have signed up for Obamacare through federal exchanges to date.  The Department of Health and Human Services estimates that nearly 90% of them have had their monthly premiums offset by as much as $264 per policy.  Do the math: the generous subsidy comes to nearly $2 billion a month or $24 billion a year and guess who picks up the tab: you, the taxpayers.”

Read more here.