This week marked the infamous five year anniversary of Obamacare, the most detrimental piece of legislation enacted by the Obama Administration to this day. It’s hard to believe that health care in the United States, once the envy of the world, has now been converted into an unfavorable and flawed system, affecting every household in the nation.
Obamacare, also known misleadingly as the Affordable Care Act, has not shown any compassion to the public or their healthcare needs. Over the past five years, promises made by the Obama Administration have been false or broken. Original costs were projected at $900 billion over a ten year span. Since spending provisions didn’t kick in until 2014, costs were adjusted to around 1.7 trillion dollars over ten years, causing another hit to our seemingly permanent federal deficit. God only knows how much this albatross will end up costing us in the long run.
We were promised that more Americans would receive lower healthcare premiums. This too was a false promise. Because of tighter regulations on insurance companies and policies, we’ve seen an average increase of up to 30% in out of pocket expenses. The Society of Actuaries estimated that by spring of 2017 all premiums would be increased by 37%. In 2014, the National Bureau of Economic Research demonstrated that all but six states had premium increases up to 85%. This is especially upsetting considering that we are paying higher premiums while being coerced out of our preferred insurance program and providers due to large cuts in hopes of offsetting rising costs.
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