Congressman Phil Gingrey, M.D. Obamacare Rate Shock Report

Obamacare Rate Shock Report: Obamacare to cause premium spikes as high as 400 percent

The House Energy and Commerce Committee, of which Rep. Phil Gingrey is a member, today released a report citing internal documents from the nation’s largest health insurance companies that reveal the health care law’s policies, mandates, taxes, and fees will cause major premium increases for consumers in the individual, small group and large group markets. As part of the committee’s ongoing efforts to educate the American people on the law’s impact, members requested existing analyses from 17 insurers on the law’s effects on insurance premiums on March 14, 2013.

The report states, “Affordability. It was a central premise – and promise – of the Patient Protection and Affordable Care Act (PPACA) when the law was debated in Congress throughout 2009 and signed into law on March 23, 2010. In his remarks that day, President Barack Obama stated: ‘This legislation will also lower costs for families and businesses…’ Over three years later, the White House continues to state that the PPACA will lower costs.

“The following report chronicles the massive premium increases awaiting Americans when full implementation of the PPACA occurs in eight months, definitively contradicting the promise that the law will lower costs. As this report demonstrates, consumers purchasing health insurance on the individual market may face premium increases of nearly 100 percent on average, with potential highs eclipsing 400 percent. Meanwhile, small businesses can expect average premium increases in the small group market of up to 50 percent, with potential highs over 100 percent.”

For more information on the report, click here.

via Press Release | Congressman Phil Gingrey, M.D..