By Gary P Jackson
On the campaign trail back in 2008 candidate Barack Obama repeatedly claimed his “health care plan” would reduce the insurance premium of every family by $2500 a year:
Of course, he lied!
A few days ago Avik Roy writing for Forbes noted: [emphasis mine]
Rate Shock: In California, Obamacare To Increase Individual Health Insurance Premiums By 64-146%
Last week, the state of California claimed that its version of Obamacare’s health insurance exchange would actually reduce premiums. “These rates are way below the worst-case gloom-and-doom scenarios we have heard,” boasted Peter Lee, executive director of the California exchange. But the data that Lee released tells a different story: Obamacare, in fact, will increase individual-market premiums in California by as much as 146 percent.
One of the most serious flaws with Obamacare is that its blizzard of regulations and mandates drives up the cost of insurance for people who buy it on their own.
This problem will be especially acute when the law’s main provisions kick in on January 1, 2014, leading many to worry about health insurance “rate shock.
Now this from CNS News: [emphasis mine]
In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.
Under Obamacare, Americans will be required to buy health insurance or pay a penalty to the IRS.
The IRS’s assumption that the cheapest plan for a family will cost $20,000 per year is found in examples the IRS gives to help people understand how to calculate the penalty they will need to pay the government if they do not buy a mandated health plan.
The examples point to families of four and families of five, both of which the IRS expects in its assumptions to pay a minimum of $20,000 per year for a bronze plan.
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.
Bronze will be the lowest tier health-insurance plan available under Obamacare–after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.
In the new final rules published Wednesday, IRS set in law the rules for implementing the penalty Americans must pay if they fail to obey Obamacare’s mandate to buy insurance.
We all remember this arrogant statement from then Speaker of the House, Nancy Pelosi:
Was she ever right! The corrupt politicians in Washington passed this massive boondoggle, and now the American people are learning every day more and more what is in this treacherous bill.
Not only must ObamaCare be repealed, but those who voted for it held responsible. This is a direct assault on the American people. It cannot be allowed to go unanswered.