Remember when President Obama described his new healthcare law? You wouldn’t need to change your doctor, everyone can be covered, and premiums wouldn’t go up that much.
Well, we all know that the doctor thing didn’t work out and the plan now covers an additional 12 million people, but millions are paying a fee because they can’t afford healthcare.
The plan is a disaster, but it is going to get a lot worse; probably 9.3-45% worse.
From early reports from insurance companies, the few that remain in Obamacare, are coming in and it is not looking good for next year’s premiums.
Due to the amount of money the insurance companies are losing as part of Obamacare, they have to raise their rates.
Almost every state is looking to have an increase.
Virginia, who is one of the first to report, has nine insurers that are going to continue to offer coverage through Healthcare.gov. Those nine companies are going to have to raise their rates for 2017 to stay financially viable. They are predicting just in Virginia a rate increase of 9.4% – 37.1%.
That means that if you pay $300 for Obamacare in Virginia you could be paying $411 next year. That is a huge increase. If you have a family that pays around $1000 a month for healthcare, you could be paying $1,371 the next year.
The economy, that Obama also says is doing well, is not going to make that kind of jump feasible for most families. Some families will have to drop health insurance and pay the monthly fine instead.
Virginia is just the first state to report and most suspect that the rates in other states could see even higher premium increases. Majority of the other states will start announcing their rate increases over the summer and into the fall which coincides with another major even in the United States.
With the huge increases in Obamacare, you can guarantee that this will be come a major talking point in the election in the fall and could derail Hillary. Obamacare stats and increases could be the October surprise that could shake up the election.
Hillary is running on a similar platform as Obama and she says she will continue and add to his efforts. She wants to keep Obamacare and that could hurt her in the fall.
Trump on the other hand, wants to get rid of Obamacare. It would be nice if we knew exactly what Trump wanted to do to replace Obamacare, but knowing he isn’t supporting a system that is raising the premiums by huge increases each year.
Obamacare doesn’t have enough people in it to make it work. It is priced too high to get new people to join. People would rather pay a fine than join. That is a problem, and one that the next president will have to fix one way or another.
Who do you think will be the best at fixing or replacing Obamacare? Let us know in the comments below.