Obamacare Is NOT Saving Americans Money

Friday, the Department of Health and Human Services (HHS) released a report that claims to highlight how Obamacare is working for Americans—but in reality, it actually shows how the law has fallen short of candidate Obama’s promises.

If a picture is worth a thousand words, then one chart in the report tells the tale. Figure 3 of the HHS report (below) highlights what happened when insurers requested to increase premiums by more than 10 percent—triggering a new rate review process established under Obamacare. While some of these premium increases were modified or withdrawn, nearly three in five (57.8 percent) were approved “unmodified” by regulators:

However, if Obama’s campaign promises had come true, NONE of those proposed premium increases would have occurred—because candidate Obama promised premiums would go down under his plan:

For those who have insurance now, nothing will change under the Obama plan — except that you will pay less. Obama’s plan will save a typical family up to $2,500 on premiums.

Via: The Foundry
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