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Article posted Sep 12 2010, 11:55 PM Category: Economy Source: The New American Print

ObamaCare Brings Insurance Rate Hikes

by Michael Tennant

Back in 2008, candidate Barack Obama said that his healthcare reform plan “would bring down premiums by $2500 for the typical family.” In February of this year he urged Congress to pass healthcare reform or else Americans would “see exploding premiums and out-of-pocket costs burn through more and more family budgets.”

In March Congress passed, and Obama signed, the legislation. Today, says the Wall Street Journal, health-insurance premiums are not falling but rising, probably as a direct result of the passage of ObamaCare.

Writes the Journal: “Aetna Inc., some BlueCross BlueShield plans and other smaller carriers have asked for premium increases of between 1% and 9% to pay for extra benefits required under the law, according to filings with state regulators.”

“These and other insurers,” adds the newspaper, “say Congress’s landmark refashioning of U.S. health coverage … is causing them to pass on more costs to consumers than Democrats predicted.”

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