Are you ready to pay an additional $4,000 per year in health insurance premiums? According to a new study, the Baucus bill will result in skyrocketing premiums for Americans.
When combined with existing inflation, costs would rise from today’s $12,300 annual average to $25,900. Of that 111% increase, $9,600 is due to existing factors uncorrected by the legislation, and $4,000 due to additional costs created by the legislation.
For single persons, the differential is projected at $1,500 a year. Premiums would rise from today’s $4,600 a year to $9,600 overall.
Prepared by Price Waterhouse Coopers (PWC), the new analysis was requested by AHIP—America’s Health Insurance Plans. It focuses on the leading plan pending in Congress, sponsored by Sen. Max Baucus (D, MT), which is scheduled for a Senate Finance Committee vote on Tuesday. The PWC report can be read here.
The PWC projections track what The Heritage Foundation and many others have said about the legislation: It does not save money. It simply taxes those who have health coverage and uses the money to give care to others.
I think it’s time they scrap every plan on the table and start over. They can begin with tort reform which won’t cost taxpayers a penny. There are plenty of options that don’t inclue a government take over of health care and won’t drive the cost of insurance up for responsible Americans.
Fox News covered the story this morning.
Video via Breitbart
Senate Finance Committee Chairman Max Baucus, wants to include a version of a government option called a co-op owned by insured members. What a wonderful idea says Mike Oliphant whom manages Utah health insurance plans for http://www.benefitsmanager.net/utah-group-health-insurance.htm . This may encourage competition from private health insurance carriers. But I fear it will fail ultimately if there is no TORT reform because the same liability costs that plague medical professionals and health insurance carriers will be like a fast cancer growth within the co-op plan. A government option wouldn’t allow legal suite against the plan but will with medical providers. Doesn’t anyone see that we need TORT reform to protect the cost outcome? See what Utah has done with health care reform http://www.ahealthinsurancequote.com/reform.html.
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