Monday, March 29, 2010

More Good News: Insurance Costs Up 17% Due to Mandatory Purchasing

Some more just perfect news coming in the wake of the passage of the ObamaCare law last week. Apparently it turns out that by forcing people to purchase things they don't want from a limited pool actually increases the cost of the item. In this case, it's expected to raise health care insurance by 17% in four years when it becomes mandatory for all adults to purchase insurance.

Now, I thought that the mantra was that the law would not increase the cost of either health care or insurance. Now that it's not even fully implemented yet we're looking at an increase of 17%!? And that's just the beginning of the new regulations. Just wait until later when there are more restrictions on the health insurance industry and much higher demand.

The higher costs will pinch many people in their 20s and early 30s who are struggling to start or advance their careers at a time when the unemployment rate is at a 26-year high.

In addition, think of it this way. New York requires all drivers to have car insurance. The result? New York has some of the highest car insurance rates in the country. And if that's the case in just one of fifty states, just wait till this kicks in.

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1 comment:

Anonymous said...

This is me acting surprised that Obama and his sycophants misstated the facts :o