A major problem is excessive costs. Insurance premiums are anticipated to rise by almost a third, from 10 percent to 13 percent, and the percent of Gross Domestic Product (GDP) spent on health care costs may jump from 17 percent to 21 percent by 2019. And he mandate "tax" is painfully regressive, imposing higher relative costs on lower-income families.[2]
A University of Chicago study shows that nearly half of existing individual plans (as opposed to employer-provided group plans) will not qualify under Obamacare mandates for coverage. This means that these already-insured Americans will have to start shopping around again and spend more--25 percent more or even worse. In Oregon, one insurer is applying for a 53 percent increase in individual-plan premiums in order to bring their insurance into compliance with the ACA, including the pre-existing condition mandate.[3]
Under ACA, nearly all companies with 50 or more full-time employees will have to either offer health coverage or face a fine of $2,000 per full-timer after the first 30 workers.[4]
Obamacare Causing Nearly Half Of Small Businesses To Freeze Hiring
With young people’s support for Obamacare at or below 40 percent in many polls, the likelihood of the exchanges’ experiencing “market failure” is high. If that happens, the whole rotten edifice of Obamacare will be exposed.[6]
Douglas Holtz-Eakin, a former director of the Congressional Budget Office, has found that less than half of those under 30 will sign up for Obamacare coverage on the exchanges if their premiums rise by 30 percent.[7]
To prohibit the Secretary of the Treasury from enforcing the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010.
(1) On May 10, 2013, the Internal Revenue Service admitted that it singled out advocacy groups, based on ideology, seeking tax-exempt status.
(2) This action raises pertinent questions about the agency’s ability to implement and oversee Public Law 111–148 and Public Law 111–152.
(3) This action could be an indication of future Internal Revenue Service abuses in relation to Public Law 111–148 and Public Law 111–152 given that it is their responsibility to enforce a key provision, the individual mandate.
(4) Americans accept the principle that patients, families, and doctors should be making medical decisions, not the Federal Government.