Finally. From a trusted source, here’s an in-depth look at why health insurance costs are about to soar under the very same legislation the President has promised will lower costs.
In this excellent article, Forbes discusses in detail why Obamacare will force premiums higher – not lower as promised.
Of course, some people will pay less, at least for awhile. That’s because their premiums will be subsidized. The source of those subsidy funds is at the heart of the debate in Washington over who is going to pay. Subsidies of course, are not funded by thin air – someone named Peter has to be robbed (taxed) to pay Paul (in the form of subsidies).
The people hit the hardest will be people who pay their own premiums and who are above 4x the poverty level, currently $88,000 for a family of four. Those people will be required to purchase coverage but will receive no subsidies. Their premiums likely will be 40% higher on average in 4 years than they are today – that’s when the meat of Obamacare would kick in, and it just gets worse from there.
All of this just has to make one wonder: What in the world is Pelosi and her pals smoking behind those closed doors?
Of course, there’s a bright side. Health savings account plans are looking more and more attractive, especially to people who pay their own premiums.
If you have not yet set up an HSA plan, consider getting in touch with my or one of my staff at your earliest possible convenience to get some quotes and start the ball rolling. We’ve been doing this over 30 years and we’ll be glad to help you avert the coming disaster from Obamacare.