”The House Energy and Commerce Committee today released a report citing internal documents from the nation’s largest health insurance companies that reveal the health care law’s policies, mandates, taxes, and fees will cause major premium increases for consumers in the individual, small group and large group markets….”
“…Over three years later [since ACA was signed into law], the White House continues to state that the PPACA will lower costs.,…”.
“…consumers purchasing health insurance on the individual market may face premium increases of nearly 100 percent on average, with potential highs eclipsing 400 percent…”
“…One insurer noted that 45 states and the District of Columbia “will see significant premium increases.”…”
“…The average yearly cost for a new customer in the individual market grows from $1,896 to $3,708 — a $1,812 cost increase….”
“…One analysis showed that purchasers of small group plans can expect premium increases of up to 50 percent….”
. “…Across the board, the taxes and fees will result in premium increases….”
“…The report concludes, “The internal documents provided by the insurance industry confirm many of the concerns voiced over PPACA: despite promises that the law will lower costs, the PPACA will in fact cause the premiums of many Americans to spike substantially. The broken promises are numerous, and the empirical data reveal that many Americans, from recent college graduates to older adults, will not be able to afford the law’s higher costs.”…”
OBAMACARE RATE SHOCKER
Energy and Commerce Committee, Majority Staff Introduction
May 13, 2013