CBO: ObamaCare Will Raise Insurance Premiums

Just what we responsible Americans need – a hike in our health insurance premiums.

The report, issued in the form of a letter to Sen. Evan Bayh (D-Ind.), will provide both Democrats and Republicans with ammunition as the Senate begins amending the healthcare bill on Monday.

“CBO and JCT estimate that the average premium per person covered (including dependents) for new nongroup policies would be about 10 percent to 13 percent higher in 2016 than the average premium for nongroup coverage in that same year under current law. About half of those enrollees would receive government subsidies that would reduce their costs well below the premiums that would be charged for such policies under current law,” the report says.

Though Republicans will seize on the projections that insurance premiums for individuals would increase, Democrats will highlight the conclusion that the legislation would lower premiums by 56 to 59 percent for those individuals who would receive subsidies to buy insurance on the exchange created by the legislation. Of those who participate in the exchange, 57 percent would be eligible for subsidies. The subsidy would cover about two-thirds of their premiums, the report says. …

This is just another wealth redistribution scheme by the democrats. They’re going to make health insurance more expensive for those they deem can afford it, meaning less money in the pockets of millions of hard working Americans. More voters will wind up on the government dole, thereby ensuring electoral victory for democrats for decades to come.