Friday, May 31, 2013

Obamacare Could Double Healthcare Costs or More

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“We are better off today than we were before.”

Yesterday in Forbes, Avik Roy broke the story that in California, Obamacare is going to skyrocket insurance rates by 146%. California's "Covered California" Healthcare Exchange released “Making the Individual Market in California Affordable” just last week. 

The only real problem is the title. It's a lie.

The average price before Obamacare for a 25-year-old non-smoking male would have been about 92 dollars a month in California's pre-Obamacare, very competetive individual market. 

Under the ACA that rate doubles to 184 dollars a month. Not only that, $184 is a deal. That only covers California's "Catastrophe Plan", a plan that is only available to those under 30. From there, costs just continue to go up. The next cheapest plan is over $200. While California is a far-off place, the example should not be lost on Virginians bracing for Obamacare's real implementation at the beginning of 2014. 

Terry McAuliffe thinks that this is the kind of example that Virginia ought to be following.  He said so himself, and he wants us all to line up behind him. 

Stop the madness.

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