This week, the White House issued rules for health insurers to extend dependent coverage to “children” up to 26 years old. Beyond keeping the “Big Kids” dependent on Mommy and Daddy, it also directly undercuts the President’s famous campaign promise that American families would see a $2,500 reduction in their annual premiums.
Now, we learn that family premiums will rise about 1 percent in 2012 just from this one provision of the new law. It will cost $3,380 for each dependent in 2011, according to this Associated Press report.
Really, this is just a little thing. But in terms of the coming collapse of health care cost control, it’s just one more nick in our financial hides. More is coming; health insurance premiums will rise from Obamacare’s new taxes on drugs, medical devices and new insurance fees, plus new insurance rating rules and the yet to be determined health benefit levels that the imperial Feds say must be included an acceptable health insurance plan. That will all be revealed in the fullness of time.
Some 1.2 million young adults are expected to sign up for coverage under the 26-year-old child provision. Health and Human Services Secretary Kathleen Sebelius trumpets it as an immediate victory of ObamaCare. In reality, it’s just the first, little step in a mind-numbing bureaucratic process that will raise health care costs for all Americans.
Oh, and don’t forget that Presidential Promise: a $2500 annual reduction in your health insurance premiums.