Among the issues most commonly discussed are individuality, the rights of the individual, the limits of legitimate government, morality, history, economics, government policy, science, business, education, health care, energy, and man-made global warming evaluations. My posts are aimed at intelligent and rational individuals, whose comments are very welcome.

"No matter how vast your knowledge or how modest, it is your own mind that has to acquire it." Ayn Rand

"Observe that the 'haves' are those who have freedom, and that it is freedom that the 'have-nots' have not." Ayn Rand

"The virtue involved in helping those one loves is not 'selflessness' or 'sacrifice', but integrity." Ayn Rand

15 December 2016

ObamaCare Cost Increases in 2017

The Center for Health and Economy has released a study estimating the increased costs to taxpayers through the federal government in 2017.  ObamaCare premiums will be 22% higher in 2017, but the average monthly subsidy cost will go up by 26% from $291/month to $367/month.  The subsidy percentage increase is greater since incomes are losing ground relative to the premium increase.

The study says 11.1 million people per month are on ObamaCare in 2016 and this number is expected to increase to 11.4 million a month in 2017.  Of these 9.39 million in 2016 received tax credits and 9.65 million are expected to receive tax credits in 2017.  In 2016, 84.6% of the people on ObamaCare received a tax credit subsidy.  The study expects the same percentage in 2017. Clearly if you do not qualify for the tax credit subsidy, there is little likelihood that you will buy your health insurance through the ObamaCare exchanges.

The resulting increase in federal payouts from 2016 to 2017 is $9.8 billion.  The 2016 cost of the subsidies was $32.8 billion and the expected 2017 cost will be $42.6 billion.  The federal subsidies will therefore cost 29.9% more in 2017 than in 2016.  Those states that expanded their Medicaid rolls will also see large cost increases.

As an American, your health insurance premiums will go up, your deductible will likely go up, your co-pay will likely go up, your federal government costs will definitely go up, and in many states your state government costs will go up in 2017 thanks to ObamaCare.  Obama's transformation of America leaves those of us who are not subsidized with no hope.  Does it even provide hope to those who are subsidized as peons or serfs to the state?

1 comment:

Charles R. Anderson, Ph.D. said...

Merlin Jetton has twice attempted to make a comment here and told me has received error messages, so I am passing on his comment, with apologies for the onerousness of this Blogspot comment engine:

Obama's ACA is like "Gollum's ring."