On June 5, 2008, then presidential candidate Barack Obama promised, “In an Obama administration, we’ll lower premiums by up to $2,500 for a typical family per year….. We’ll do it by the end of my first term as President of the United States.” Of all the promises Obama has broken, affordability in healthcare is one of the most egregious. In truth, since the passage of the Affordable Healthcare Act in 2010, millions of Americans have had their healthcare disrupted against their will, and have often been forced to pay higher prices for fewer options.
A study released in June 2014 by Forbes Magazine’s Manhattan Institute analyzed data for 3,137 of the country’s 3,144 counties. This study surveyed men and women ages twenty-seven, forty, and sixty-four. The results showed Obamacare has raised 2014 individual healthcare premiums by an average of 49%.
Across the board, women’s health insurance premiums increased less than those of men. This reflects the fact that before passage of Obamacare, only eleven states prohibited insurers from charging men and women different rates, although women incur higher healthcare costs . Even considering this disparity, however, 27-year-old women saw an increase of 44 percent, 40-year-olds 23 percent, and 64-year-olds saw their premiums rise 42 percent.
Men took an even bigger hit. 27-year-old men saw a 91 percent increase in premiums. 40-year-old men had their premiums raised 60 percent, and 64-year-old men, 32 percent.
Americans pay in other ways, as well. Tax restraint advocate Grover Norquist has estimated Obamacare includes at least twenty hidden taxes. For example, there is a 3.8 percent surtax on investment income , and a 0.9 percent surtax onMedicare taxes for individuals who earn more than $200,000 and families with incomes above $250,000. These taxes seem patently unfair to people who have worked hard to achieve success, and people still working to attain a higher income.
Seven of the tax provisions directly hit the middle class, even though Obama guaranteed there would be no new tax on people earning below $250,000 – another broken promise. There are new taxes on Flexible Savings Accounts and Health Savings Accounts, and a 2.3 percent excise tax on medical equipment. There’s even a 10 percent tax on tanning services.
Fortunately the courts, all the way up to the Supreme Court, have curtailed certain aspects of Obamacare, but this year the law went forward to full implementation. Despite this, conservative lawmakers consider stopping Obamacare one of their top priorities. As Senator Ted Cruz tweeted earlier this year:
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