• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Obamacare Is NOT Saving Americans Money

    Yesterday the Department of Health and Human Services (HHS) released a report that claims to highlight how Obamacare is working for Americans—but in reality, it actually shows how the law has fallen short of candidate Obama’s promises.

    If a picture is worth a thousand words, then one chart in the report tells the tale. Figure 3 of the HHS report (below) highlights what happened when insurers requested to increase premiums by more than 10 percent—triggering a new rate review process established under Obamacare. While some of these premium increases were modified or withdrawn, nearly three in five (57.8 percent) were approved “unmodified” by regulators:

    HHS_Fig3

    However, if Obama’s campaign promises had come true, NONE of those proposed premium increases would have occurred—because candidate Obama promised premiums would go down under his plan:

    For those who have insurance now, nothing will change under the Obama plan — except that you will pay less. Obama’s plan will save a typical family up to $2,500 on premiums.

    The HHS report claims that, because rate review lowered the average premium increase—from 8.1 percent to 7.1 percent for those who purchased insurance coverage on their own, and from 5.8 percent to 4.7 percent for small businesses buying insurance—Americans “saved” $1.2 billion due to Obamacare. But one report released last year found that the Obama Administration had fallen $800 billion short of its promise to lower premiums by $2,500 per family.

    The fact that regulators are having to approve premium increases of 10 percent or more demonstrates that Obamacare has singularly failed to achieve candidate Obama’s pledge to lower insurance premiums. It’s why Congress should focus on stopping the law now, before premiums can rise any further.

    Posted in Capitol Hill, Featured, Front Page, Obamacare [slideshow_deploy]

    Comments are closed.

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×