CONFIRMED: Obamacare Has Increased Non-Group Premiums In Nearly All States

President Barack Obama, Cuban cigar
President Barack Obama, Cuban cigar

Remember this categorical assurance from President Obama?

“We’ll lower premiums by up to $2,500 for a typical family per year. .  .  . We’ll do it by the end of my first term as president of the United States”

OK, it’s probably a little unfair to take some June 2008 campaign “puffery” literally–even though it was reiterated by candidate Obama’s economic policy advisor, Jason Furman in a sit-down with a New York Times reporter: “‘We think we could get to $2,500 in savings by the end of the first term, or be very close to it.” Moreover, President Obama subsequently doubled-down on his promise in July 2012, assuring small business owners “your premiums will go down.”  Fortunately, the Washington Post fact-checker, Glenn Kessler, honestly awarded the 2012 claim Three Pinocchios (“Significant factual error and/or obvious contradictions”).

Unfortunately, this has never settled the debate. When the Society of Actuaries estimated spring 2013 that the ACA would result in increasing claims costs by an average of 32 percent nationally by 2017, such estimates could be dismissed as “projections” since at the time of this study, actual premiums in the Exchanges had not yet been announced… As a consequence, Obamacare proponents tended to dismiss these studies either as partisan attacks or methodologically limited, making what amounts to apples-to-oranges comparisons.

However, a new study from the well-respected and non-partisan National Bureau of Economic Research (and published by Brookings Institution), overcomes the limitations of these prior studies by examining what happened to premiums in the entire non-group market. The bottom line? In 2014, premiums in the non-group market grew by 24.4% compared to what they would have been without Obamacare.  Of equal importance, this careful state-by-state assessment showed that premiums rose in all but 6 states (including Washington DC).  It’s worth unpacking this study a bit to understand the ramification of these findings.

Read the full article and see the breakdown here on Forbes.

Photo credit Donkey Hotey

Previous article141 US counties have more voters than residents
Next articleZoNation: Buzz Feed’s Bull Feed On Christianity
The Real Side
Posts categorized under "The Real Side" are posted by the Editor because they are deemed worthy of further discussion and consideration, but are not, by default, an implied or explicit endorsement or agreement. The views of guest contributors do not necessarily reflect the viewpoints of The Real Side Radio Show or Joe Messina. By publishing them we hope to further an honest and civilized discussion about the content. The original author and source (if applicable) is attributed in the body of the text. Since variety is the spice of life, we hope by publishing a variety of viewpoints we can add a little spice to your life. Enjoy!