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What a… surprise: Health care law passed to stem rapid rise in insurance costs causing rapid rise in insurance costs

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By Doug Powers  •  January 7, 2013 02:37 PM

**Written by Doug Powers

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“The only thing we’re going to try to do is lower costs so that those cost savings are passed onto you. And we estimate we can cut the average family’s premium by about $2,500 per year.” – Barack Obama, October 2008

Eventually the “affordable” portion of the “Affordable Care Act” kicks in, right? RIGHT?

Health insurance companies across the country are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration’s health care law was to stem the rapid rise in insurance costs for consumers.

Particularly vulnerable to the high rates are small businesses and people who do not have employer-provided insurance and must buy it on their own.

In California, Aetna is proposing rate increases of as much as 22 percent, Anthem Blue Cross 26 percent and Blue Shield of California 20 percent for some of those policy holders, according to the insurers’ filings with the state for 2013. These rate requests are all the more striking after a 39 percent rise sought by Anthem Blue Cross in 2010 helped give impetus to the law, known as the Affordable Care Act, which was passed the same year and will not be fully in effect until 2014.

In other states, like Florida and Ohio, insurers have been able to raise rates by at least 20 percent for some policy holders. The rate increases can amount to several hundred dollars a month.

This is just the tip of the iceberg, because before long premiums will start skyrocketing faster than taxes go up in Nancy Pelosi’s dreams.

At Hot Air, Ed Morrissey makes some points about why this kind of thing was inevitable.
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“It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government bureaucracy to administer it.” – Thomas Sowell
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**Written by Doug Powers

Twitter @ThePowersThatBe

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