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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