Obamacare Premiums Prices May Double In 2015

Obamacare premiums prices may double in 2015 according to some analysts, but Democrats insist the Affordable Care Act is still provides a good deal.

In a related report by The Inquisitr, some people are worried that the unemployment rate could rise because of the economic impact of Obamacare.

The biggest concern so far is the hypothetical scenario some have called the Obamacare “death spiral.” The idea assumes that otherwise healthy people will ignore the individual mandate and wait it out since the Obamacare fines can be easily ignored at first. This is because the law makes insurance plans more expensive for the healthy in order to help the sick be able to afford insurance in the first place. If there’s a smaller pool of people shouldering the cost then Obamacare premiums would rise.

Aetna CEO Mark Bertolini also warned back in 2012 that “some markets” could have premiums rise by up to 100 percent. But recently he asked, “Are we going to get beat up because [next year’s premium increases will be] double-digit or are we just going to have to pull out of the program?” Another insurance company official claimed “his company expects to triple its rates next year on the Obamacare exchange.”

The market forces that drive the Obamacare premiums up include a variety of factors. One of them is how often President Obama and Congress keep changing the rules on a whim, which requires health insurance companies to make changes that carry a real cost on their end. Another reason is that only about 30 percent of the people signing up are young people and even then many of these millennials are said to have health problems or be pregnant women.

Democrats like Nancy Pelosi have responded to all this data by claiming, “This isn’t about politics, this is about helping America…. The plural of anecdote is not data. We can talk about who says what, but the facts will speak for themselves.” Republicans like Senate Minority Leader Mitch McConnell disagrees, saying:

“Despite repeated assurances from the Democrats who forced this law through Congress, Obamacare has led to higher premiums, fewer choices and enormous complications even for people who already had insurance. It’s forced painful choices for people who could barely get by as it was.”

If Obamacare premiums double in 2015, should congress amend the Affordable Care Act in some way or try something new?