Small businesses across the country have already been struggling to provide decent health care coverage to their employees in the wake of disastrous ObamaCare related premium hikes. According to a new report from federal health officials, the financial toll of this bill is not even close to over. The Washington Post reports:
Insurers are raising the 2017 premiums for a popular and significant group of health plans sold through HealthCare.gov by an average of 25 percent, more than triple the increase for this year, according to new government figures.
The spike in average rates for the 38 states that rely on the federal marketplace created under the Affordable Care Act was announced by federal health officials on Monday. The figures serve broadly to confirm what has become evident piecemeal in recent months: Prompted by a burden of unexpectedly sick ACA customers, some insurers are dropping out while many remaining companies are struggling to cover their costs.
In disclosing the 2017 rates, officials played down the impact of higher prices on consumers. They said that more than eight in 10 consumers will qualify for ACA subsidies that will cushion them from sticker shock. And they noted that as premiums go up, more Americans will be eligible for the tax credits.
What do you think? Is the Affordable Care Act (popularly known as ObamaCare) a good idea gone wrong or was it a terrible one to begin with? Was it designed with this outcome in mind — to destroy insurance companies by quickly escalating costs in order to induce a single-payer system? Let us know on Facebook or in the comments below.