HolyCoast: Where's My 3,000% Rate Decrease?
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Monday, March 29, 2010

Where's My 3,000% Rate Decrease?

During the last days before the ObamaCare vote Obama made a speech promising Americans that if his bill was passed we'd see a 3,000% decrease in our health care premiums. Of course, that's not even mathematically possible, let alone true. Aetna chief Ron Williams was asked where he thought premiums would go thanks to this bill:
Will insurance premiums go up?
The answer is yes, and some of the things that will drive those premiums are significant additional taxes the industry will ultimately have to pay in the first year.

The President said that this bill would not have any impact on people who already had coverage, that it was about the uninsured, that there would be no change. Will this legislation change the coverage of people who are already paying for it?
My perception is, yes, things will change. You might not have a plan that includes the exact same doctors. You might have plans that have richer benefits, and therefore you're going to pay more for benefits you may or may not want. It would have been a better message to say, we're going to make certain you maintain your eligibility.
Americans will get an expensive lesson in liberal politics when their health plans renew next time. Sadly, most of those increases won't be felt until after the November election. If the health industry was smart they'd announce their planned rate hikes early - before November - and in time for voters to find out what the Democrats have done to them. It may be the only chance the private health industry has to survive.

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