ust over three years ago, then-Speaker Nancy Pelosi famously quipped about ObamaCare that "we have to pass the bill so you can find out what is in it.
But only now, as ObamaCare's third anniversary approaches — President Obama signed it into law on March 23, 2010 — is the country starting to find out what the sweeping health care overhaul will actually do.
ObamaCare backers typically tout popular features that went into effect almost immediately. The law expanded Medicare's drug coverage, for example, and let children stay on their parents' plans until they turned 26.
But the bulk of ObamaCare doesn't take effect until next year. That's when the so-called insurance exchanges are supposed to be up and running, when the mandate on individuals and businesses kicks in, and when the avalanche of regulations on the insurance industry hits.
As this start date draws near, evidence is piling up that ObamaCare will: Boost insurance costs. Officially the "Affordable Care Act," ObamaCare promised to lower premiums for families. But regulators decided to impose a 3.5% surcharge on insurance plans sold through federally run exchanges. There's also a $63 fee for every person covered by employers. And the law adds a "premium tax" that will require insurers to pay more than $100 billion over the next decade. The congressional Joint Committee on Taxation expects insurers to simply pass this tax onto individuals and small businesses, boosting premiums another 2.5%.
Push millions off employer coverage. In February, the Congressional Budget Office said that 7 million will likely lose their employer coverage thanks to ObamaCare — nearly twice its previous estimate. That number could be as high as 20 million, the CBO says.
Cause premiums to skyrocket. In December, state insurance commissioners warned Obama administration officials that the law's market regulations would likely cause "rate shocks," particularly for younger, healthier people forced by ObamaCare to subsidize premiums f
Wow sure(not)to win, read your comment and please see how laughable it is. As a suggestion, if you want to communicate, it might help to proof-read what you post. Other than the obvious blunder, the rest of your post was, well, pretty dumb. Come to think of it, if you don't have anything to say, it is probably best if you DON'T say it.
Everyone is going to pay out the nose for this monster,, it is an attempt to control our lives and there are 10 ,s of thousands of pages of this thing that is not even out yet,, it is the fall of our country into socialism period,, save your wealth, cause they are coming after it one way or another, ie. taxes,, it will be interesting to see the death rate in a couple of years,, the old and sick are going to die,,
I'll put this another way. Everyone is already paying out the nose for this monster. The current way of doing things is a means for bringing that mess under some sort of control. I'm sorry it causes your panties to bunch, hell it doesn't do much for mine at the moment. You have to agree that something needed to be done, and that having started down a path it's a helluva lot easier to alter the current path then to forge a new one. Think the Clinton initiative, and the damage that did. No one was eager to try that again, and yet this president did. I think that in and of itself deserves a serious applause. It needed to be done, and it finally was done. Let's be grateful that we are finally on a road, and maybe we can all work together to make this road a little more "travellable".
Yes, because every other country that has ever had a government-involved system of healthcare is, of course, socialist... Oh, wait, that's not even close to true. Wait, aren't pretty much all of those countries ahead of this one when healthcare is measured? Hmmm, something seems wrong with your premise, or at least the facts don't seem to back them up...
That comment by Pelosi has to be one of the most ridiculous, laughable comments ever uttered by a member of Congress made even more so by the fact that her party elected her Speaker.
Cause premiums to skyrocket. In December, state insurance commissioners warned Obama administration officials that the law's market regulations would likely cause "rate shocks," particularly for younger, healthier people forced by ObamaCare to subsidize premiums for those who are older and sicker.
"We are very concerned about what will happen if essentially there is so much rate shock for young people that they're bound not to purchase (health insurance) at all," said California Insurance Commissioner Dave Jones.
That same month, Aetna CEO Mark Bertolini said ObamaCare will likely cause premiums to double for some small businesses and individuals.
And a more recent survey of insurers in five major cities by the American Action Forum found they expect premiums to climb an average 169%.
Cost people their jobs. The Federal Reserve's March beige book on economic activity noted that businesses "cited the unknown effects of the Affordable Care Act as reasons for planned layoffs and reluctance to hire more staff.
Around the same time, Gallup reported a surge in part-time work in advance of ObamaCare's employer mandate. It found that part-timers accounted for almost 21% of the labor force, up from 19% three years ago.
Meanwhile, human resources consulting firm Adecco found that half of the small businesses it surveyed in January either plan to cut their workforce, not hire new workers, or shift to part-time or temporary help because of ObamaCare.
Tax the middle class. IBD reported in February that much of the $800 billion in tax hikes imposed by ObamaCare will end up hitting the middle class, including $45 billion in mandate penalties, $19 billion raised by limiting medical expense deductions, $24 billion through strict limits on flexible spending accounts, plus another $5 billion because ObamaCare bans using FSAs to buy over-the-counter drugs.
Add to the deficit. The Government Accountability Office reported in January that Obama-Care will likely add $6.2 trilLLION