When Obamacare became the law of the land, Obama’s promise was that it would reduce premiums for families by an average of $2,500 per year. In fact, according to Politifact, here are the words that came out of Obama’s mouth:
“I will sign a universal health care bill into law by the end of my first term as president that will cover every American and cut the cost of a typical family’s premium by up to $2,500 a year.”
But, Americans everywhere are watching their premiums skyrocket as Obamacare’s full implementation nears, even in Colorado. According to a study published by the House Committee on Energy and Commerce and the Senate Committees on Finance and on Health, Education, Labor & Pensions earlier this month, premiums in Colorado are scheduled to rise a whopping 19% to 41% next year. Sadly, Colorado is not the worst of the bunch. Here is the full chart from the report:
While Colorado’s 19-41% increase is far above the rate of inflation, which means families have to make the same income stretch much further, the rates in states like Arizona, Arkansas, Georgia, Missouri, and more are set to skyrocket.
It’s concerning that premium increases will strike families, some of which are already struggling to make ends meet, but there is another downside to Obamacare’s out-of-control costs. Jobs. Earlier this week, the Peak highlighted a survey conducted by Gallup and Wells Fargo that showed 61% of small business owners weren’t hiring because of concerns over rising healthcare costs.
Despite the lack of front page news on the joblessness front, the fact remains that the unemployment rate – nationally and in Colorado – remains quite high and the percentage of the population currently employed is near historic lows.
Families are hurting. Obamacare isn’t the cure-all it was made to be.