Throughout the Obamacare debate, President Obama repeatedly promised, “If you like your health care plan, you can keep your health care plan.” Now, Gallup reports that from the first quarter of 2010 (when Obama signed Obamacare into law) to the third quarter of this year, 2 percent of American adults lost their employer sponsored health insurance. In other words, about 4.5 million Americans lost their employer-sponsored insurance over a span of just 18 months.This is all as designed. The more employers that cancel their plans the more the Democrats will demand that the government provide a single-payer option. The destruction of the private health insurance industry was the goal all along.
This is not what the Congressional Budget Office (CBO) had predicted would happen. Rather, the CBO had predicted that Obamacare would increase the number of people with employer-sponsored insurance by now. It had predicted that, under Obamacare, 6 million more Americans would have employer-sponsored insurance in 2011 than in 2010 (see table 4, which shows the CBO’s projected increase of 3 million under (pre-Obamacare) current law and an additional 3 million under Obamacare). So the CBO’s rosy projections for Obamacare (and even these paint a frightening picture) are already proving false.
Whether the decline in employer-sponsored insurance over the past 18 months is a product of Obamacare or of the Obama economy — and whether Obamacare is the principal cause of the anemic performance of the Obama economy — can be debated. But what’s clear is that, more than 25 months before Obamacare would really go into effect — if it’s not repealed first — employers are already dropping employees from their insurance rolls.
Saturday, November 12, 2011
Just like we thought it would: