In my last post, I calculated an inflation rate of over 124% for my health insurance premiums since the inception of the federalization of health insurance, known as “Obamacare.” However, that figure was calculated over a two-year (24-month) period. For the inflation rate during only the 17 months since the inception, I have calculated the figure to be 303%!
I note there were significantly fewer choices in plans this year, especially in
Pennsylvania. Although the lack of selection made the choice easier, it meant there was less
competition and thus more cost for consumers. Plans were cancelled the first year because they were not exactly compliant with the federalization of health insurance, despite the promises that people could keep the plans they liked, while many plans were cancelled this year because of the increased losses from Obamacare to insurance companies, as dramatically more Americans than the Administration expected have opted either for Medicaid or not to obtain health insurance.
The Obama Administration has continued to extend the mid-December deadline to obtain a new health insurance plan in order to avoid any monthly gaps in coverage by the start of the year because there were tens of millions of Americans, including many of us for the second year in a row, scrambling to replace their current plans that were cancelled because of Obamacare.
In short, among other problems, Obamacare has led to increased costs, less choice and more inconvenience for the many Americans who had been satisfied with their previous health insurance plans.