Health Law Will Increase Costs
September 14, 2011
Yet another study finds that the new health care law ("ObamaCare") is going to increase costs. And this one wasn't issued by an opponent of the Democrats' reforms. In fact, one of its authors is an ObamaCare apologist, says Investor's Business Daily.
In an effort to determine how ObamaCare would affect Wisconsin, the state's Health Services Department commissioned Gorman Actuarial and economist Jonathan Gruber from the Massachusetts Institute of Technology to assess the program. The review was ordered up by former Democratic Gov. Jim Doyle, a faithful ObamaCare supporter who has claimed the law will control health care costs.
- Under its "Key Findings" heading, the report says the market for individual policies "will experience premium increases as compared to pre-reform premiums."
- "Prior to the application of tax subsidies, 87 percent of the individual market will experience an average premium increase of 41 percent," says the report.
- "The average increase for the entire individual market will be 30 percent."
Even subsidies won't help much. The report says that after subsidies, "59 percent of the individual market will experience an average premium increase of 31 percent."
Also in line for increased costs is the small employer group, 53 percent of which "will experience a premium increase as compared to pre-reform premiums." The average premium among those who belong to this group will go up by 15 percent.
Source: "It's Going To Hurt," Investor's Business Daily, September 7, 2011.
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