Coloradans with individual health plans could see an increase of as much as 40 percent in their premium costs next year according to the Colorado Division of Insurance. That wasn’t supposed happen.
The Affordable Care Act was supposed to generate up to $2,500 in savings per year for American families. The savings didn’t materialize. Instead insurance costs have risen. Now they’re set to increase again. So much for affordable.
Worse, some Coloradans will lose their insurance plans next year. UnitedHealthcare and Humana Insurance will no longer offer individual plans and Rocky Mountain Health Plans and Anthem Blue Cross and Blue Shield are reducing the number of people they will serve.
About 92,000 Coloradans will have to find another plan. UnitedHealth is withdrawing from the exchanges in most states — and it isn’t the only one. Exchanges in Alaska, Alabama, and Wyoming now have just one insurer.
So much for “If you like your health care plan, you’ll be able to keep your health care plan.” Remember that? The Administration said it some 37 times according Politifact in an attempt to sell Obamacare to a skeptical public. Politifact awarded the statement the dubious honor of Lie of the Year. Millions of Americans lost their health plans that didn’t meet Obamacare’s regulations. They had to buy new plans, often with higher premiums or deductibles.
History is repeating itself. Obamacare backers made the wrong assumptions. It’s more expensive to provide care than their projections, even with government subsidies. Sicker patients are enrolling and some leave once they’ve gotten the treatments they want. All those young, healthy patients who were supposed to flock to health plans and help support older, sicker patients haven’t fully materialized. In many cases, they opted to pay a yearly fine rather than a monthly premium. The result is higher premiums and higher deductibles for those who do buy insurance.
Coloradans deserve better. Lawmakers should repeal Obamacare and replace it with a patient-centered free market system with greater competition, innovation, and patient choice.
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