No, it wasn’t the Obama tax increase. It’s ObamaCare! Jesus H. Christ, what is this ditz sniffing?
House Minority Leader Nancy Pelosi (D-Calif.) said Monday that President Obama’s landmark healthcare reform law is helping to bring down the deficit.“Many of the initiatives that he passed are what are coming to bear now, including the Affordable Care Act,” Pelosi said in an interview with MSNBC’s Chris Hayes. “The Affordable Care Act is bringing the cost of health care in our country down in both the public and private sector. And that is what is largely responsible for the deficit coming down.”
Internal cost estimates from 17 of the nation’s largest insurance companies indicate that health insurance premiums will grow an average of 100 percent under Obamacare, and that some will soar more than 400 percent, crushing the administration’s goal of affordability.
New regulations, policies, taxes, fees and mandates are the reason for the unexpected “rate shock,” according to the House Energy and Commerce Committee, which released a report Monday based on internal documents provided by the insurance companies. The 17 companies include Aetna, Blue Cross Blue Shield and Kaiser Foundation.
The report found that individuals will 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.”
According to Pelosi, that’s bringing down the cost of healthcare. Um, OK.