Obamacare: the continued “insurance premium” spin

Each time I listen to President Obama, or Nancy Pelosi, for that matter, I am compelled to ask myself whether either of them has read the proposed health care legislation.

Last week at the health care summit, looking quite serious when doing so, the president explained that Obamacare would not only not raise premiums, but, in fact, would reduce them. That then became the mantra of the Democrats on the Sunday morning talk shows.

Perhaps one of them will read this post and learn something about the legislation they are proposing.

Insurance companies will pay an additional $6.7 billion tax each year.  You will be the one paying that tax in the form of higher premiums. Prescription drug manufacturers will be paying an additional  $2.3 billion (or $3.3 billion under the President’s plan) tax each year. You will be the one paying that tax in the form of higher premiums.  Medical device manufacturers will be pay an additional $2 billion tax each year. You will be the one paying that tax in the form of higher premiums.

Even the Congressional Budget Office has said your premiums will increase under Obamacare more than they would without it.

But, if you are not persuaded by that, let’s look at Massachusetts, where “Obamacare” has been in place since 2006.

[A]verage Massachusetts insurance premiums are now the highest in the nation. Since 2006, they’ve climbed at an annual rate of 30% in the individual market.

And, if you are thinking of blaming the insurance companies for this, think again. You need to know …

[T]he average “medical loss ratio” in Massachusetts for individual policies is 112%–that is, insurers pay $1.12 in benefits for every $1 in premiums [they collect].

The only logical results of Obamacare are price controls, as are now being proposed by the governor of Massachusetts, and the rationing of health care. That – not lower insurance premiums – will be your future under Obamacare.

If  Obamacare is so great for this country, why don’t those in favor if it tell us about it’s prototype… Massachusetts?

As to that question, all we hear are crickets.