Obamacare Is Absolutely Killing The Middle Class

The critics of Obamacare have been proven right.  The Obama administration promised that health insurance premiums would go down.  Instead, they have absolutely skyrocketed.  The Obama administration promised that Obamacare would not kill jobs.  Instead, firms are hiring fewer workers because of suffocating health care costs.  As you will see below, even the Federal Reserve is admitting this.  The Obama administration also promised that the big health insurance companies would love the new Obamacare plans and would eagerly compete with one another to win customers in the new health insurance marketplaces.  Instead, many of the big health insurance companies are now dropping Obamacare plans altogether.

We witnessed the latest stunning example of this phenomenon just a few days ago.  It turns out that Aetna has been losing hundreds of millions of dollars on plans sold through the health exchanges, and now they plan to pull out of the program almost entirely

Earlier this week, Aetna, which covers about 900,000 people through the health exchanges created under Obamacare, announced that it would dramatically reduce its presence those exchanges. Instead of expanding into five new states this year, as the insurer had previously planned, the company said that it would drop out of 11 of the 15 states in which it currently sells under the law.

Aetna’s decision follows similar moves from other insurers: UnitedHealth announced in April that it would cease selling plans onmost exchanges. Shortly after, Humana pulled out of two states, Virginia and Alabama. More than a dozen of the nonprofit health insurance cooperatives set up under the law—health insurance carriers created using government-back loans in order to spur competition—have failed entirely. While some insurers are entering the exchanges, even more are leaving.

Another one of “the big five”, UnitedHealth, is going to lose more than half a billion dollars on Obamacare plans.  So just a few months ago they also announced that they would be dramatically scaling back their participation in the program.

Because of the ridiculous costs, health insurance companies are either going to have to abandon the exchanges completely or they will have to raise rates substantially.

Needless to say, the people that are going to ultimately feel the pain from all of this are consumers

Customers who are now forced to obtain insurance or pay a hefty fine that grows more costly over time are being left in a difficult position. Americans are essentially stuck between a rock and hard place, either losing coverage entirely, or having to cough up money for a plan they can’t afford.

Something has to give,” said Larry Levitt, a healthcare law expert at the Kaiser Family Foundation. “Either insurers will drop out or insurers will raise premiums.

On the low end of the spectrum, tens of millions of poor Americans benefit from government programs that provide health care at little or no cost.

On the other end of the spectrum, the very wealthy can afford to pay the ridiculously high health insurance premiums that we are seeing under Obamacare.

So what this means is that the people that are being hurt the most by Obamacare are those that belong to the middle class.

As I mentioned above, employers are now hiring less workers because of Obamacare, and that is very bad news for the middle class.  One recent study conducted by the Federal Reserve Bank of New York discovered that nearly one out of every five firms is “employing fewer workers” because of this insidious law

According to a new survey by the Federal Reserve Bank of New York, 20.9% of manufacturing firms in the state said they were employing fewer workers because of the Affordable Care Act, the healthcare law known as Obamacare, while 16.8% of respondents in the service sector said the same.

And middle class Americans that have to pay for their own health insurance are being hit with much higher bills these days.  According to one recent study, it is being projected that the average Obamacare premium will go up 24 percent in 2016…

Now, courtesy of a new study by independent analyst Charles Gaba – who has crunched the numbers for insurers participating in the ACA exchanges in all 50 states – we can also calculate what the average Obamacare premium increase across the entire US will be: using proposed and approved rate increase requests, the average Obamacare premium is expected to surge by a whopping 24% this year.

Even NBC News, which is about as pro-Obama as you can get, is reporting on the crippling premium increases that are devastating the middle class…

Millions of people who pay the full cost of their health insurance will face the sting of rising premiums next year, with no financial help from government subsidies.

Renewal notices bearing the bad news will go out this fall, just as the presidential election is in the home stretch.

“I don’t know if I could swallow another 30 or 40 percentwithout severely cutting into other things I’m trying to do, like retirement savings or reducing debt,” said Bob Byrnes, of Blaine, Minnesota, a Twin Cities suburb. His monthly premium of $524 is already about 50 percent more than he was paying in 2015, and he has a higher deductible.

All over the nation people are getting hit like this.

Personally, my health insurance company wanted to nearly double the rate I was paying when Obamacare fully kicked in.  So I searched around and found another plan that was only about a 30 percent increase, but at least it wasn’t nearly double what I had been paying before.

But when the time came to renew that plan, they wanted to jump my premium up another 50 percent per month.

Those of us that are in the middle are being crushed by Obamacare.  We aren’t poor enough to qualify for government assistance, and we aren’t wealthy enough for these ridiculous health insurance premiums not to matter.

Just about everything that Barack Obama promised us about Obamacare has turned out to be a lie.

So where in the accountability?

This is one of the big reasons why nearly one out of every five U.S. adults lives with their parents or their grandparents these days.  Many young adults cannot afford the basics of life such as health insurance, and so they have got to find a way to cut back expenses somewhere.  If that means moving back in with Mom and Dad, that is what some of them are going to do.

I am astounded that our system of health care has become so messed up.  But this is just more evidence of how our society is falling apart in thousands of different ways, and I am not optimistic that things will be turned around any time soon.

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  • Simon Percival

    I do and did in this case. Blocking someone is one thing but it doesn’t do anything for the unease I feel knowing that people like that live freely among us.

  • Joe Cabot

    Wow, lighten up. I enjoy seeing his ignorance play out in real time.

  • Joe Petty

    What I do not understand is WHY you people do not BLOCK these assholes. I NEVER see dumbass dille anymore.

  • Joe Cabot

    Congratulations! You got yelled at by the amusing poster child of the Bernie Sanders fan club. He may not be savvy in things economic or political but he sure does them loudly.

  • JohnDille

    YOU LOOK UP WIN… WHIP INFLATION NOW… AND PRICE CONTROLS UNDER NIXON AND FORD…. AND LOOK UP HILLARY CLINTONS ATTEMPTS TO PUSH FOR HEALTH CARE…. WAY BACK IN 1993!!! PRESIDENTS ALL THE WAY BACK TO HARRY TRUMAN… AT LEAST… HAVE TRIED TO CREATE A NATIONAL HEALTH CARE SYSTEM… MORE OR LESS LIKE THE HEALTH CARE SYSTEMS THAT NEARLY ALL OTHER WEALTHY NATIONS HAVE!!! BUT… RICH REPUBLICANS DO NOT WANT SUCH A SYSTEM…. BECAUSE THE EXISTING SYSTEM ALLOWS THEM TO ROB ALL THE REST OF US BLIND… AND TO GIVE LOWER INCOME PEOPLE OFTEN REALLY CRAPPY HEALTH CARE… IF ANY CARE AT ALL!!! AND THAT WAS TRUE BEFORE OBAMACARE WAS EVEN THOUGHT OF!!!

  • JohnDille

    just fe you… no all cads… enjoy thw types… because I cannot see what I habe just typed… at akk!!!

  • Simon Percival

    @JohnDille Notwithstanding that typing in all caps tends to call into question your basic intelligence, I recommend you do an Internet search on three things: (1) FDR price and wage controls (2) Ted Kennedy HMO Act of 1971 and (3) How to turn off Caps Lock.

  • JohnDille

    YEAH…. FREE MARKET HEALTH CARE SYSTEM HAS BEEN A GIGANTIC SCAM AND TOTAL FRAUD… AT LEAST SINCE REPUBLICANS TOOK OVER THE GOVERNMENT BACK IN THE EARLY 1970’S!!! WHICH IS WHY HEALTH CARE COSTS… WHICH USED TO BE VERY REASONABLE WAY BACK WHEN DEMOCRATS RAN AMERICA…. HAVE BEEN ESCALATING RAPIDLY FOR MOST OF THE PAST 35 TO 40 YEARS OR SO!!! AND WILL CONTINUE TO ESCALATE AS LONG AS REPUBLICANS CONTROL THE UNITED STATES… FROM TOP TO BOTTOM!!!

  • JohnDille

    POOR BIG INSURANCE COMPANIES!!! NOW THAT THE GOVERNMENT IS WATCHING THEM MORE CLOSELY, THEY CAN’T MAKE HUGE PROFITS… AT THE EXPENSE OF THEIR CUSTOMERS… ANY MORE!!! DANG OBAMACARE MEANS THAT THE GOVERNMENT HAS TO APPROVE THE NORMAL FRAUDS AND SCAMS AND RIP OFFS THAT THE WHOL HEALTH CARE INDUSTRY AND HEALTH INSURANCE INDUSTRY HAS BEEN CRAMMING DOWN OUR THROATS FOR DECADES…. AND OBAMACARE SYSTEM AND THE GOVERNMENT JUST WILL NOT PLAY BALL LIKE THE GOVERNMENT DID UNDER REPUBLICAN CONTROL!!! NOW AETNA IS BOO HOOING ALL THE WAY OUT OF THAT BISUNESS… JUST BECAUSE THE GOVERNMENT WOULD NOT LET AETNA JOIN WITH SOME OTHER BIG COMPANY SO THEY COULD WORK TOGETHER AND MONOPOLIZE THE WHOLE HEALTH CARE AND HEALTH INSURANCE SYSTEM EVEN MORE THAN BOTH COMPANIES ALREADY HAVE BEEN DOING… EVER SINCE REAGAN AND HIS REPUBLICAN BUDDIES ALLOWED THEM TO START DOING THAT ON A MASSIVE SCALE!!! THE OLD REPUBLICAN STRATEGY OF DOING CRIMINAL STUFF ON A MASSIVE SCALE… AND THEN BLOMING THE OFTEN CATASTROPHIC RESULTS ON DEMOCRATS… HAS NOT CHANGED A BIT! WORKING CLASS AND MIDDLE CLASS REPUBLICANS ARE STILL JUST AS DUMB AS EVER… AND THEY STILL BELIEVE WHATEVER THEIR BILLIONAIRE MASTERS TELL THEM TO BELIEVE!!! HOW SURPRISING!!!

  • Simon Percival

    Correct! The libs will actually be able to claim a “twofer” in the end. They will be able to say, we tried free market solutions and they failed so we have to go single-payer and fall back in line with…I mean…catch up with the rest of the developed world. /snark

  • volpoppy

    This was all predicted, for anyone with ears and a brain to process the information, right from the start. AND, these “failures” of the exchanges and the ridiculously priced plans–well, THEY were part of the plan, too.
    This whole thing was designed to fail so the outcry from innocent victims in the middle class would ‘force’ those kind-hearted liberals in D.C to take over everything with their panacea…single payer, total government controlled ‘health’ care.
    You see, ANYTHING that gives liberals more control over people is a ‘panacea’, as far as they are concerned–no matter who, or how many, gets hurt.