It was proven to be a lie a long time ago — President Obama’s solemn promise that passage of his signature healthcare law would lower the average American’s insurance premiums by thousands of dollars a year. Now comes news that insurance premiums are expected to skyrocket for many people on subsidized ObamaCare plans, making the law an even harder pill to swallow given another oft-repeated ObamaCare falsehood that “if you like your doctor, you can keep your doctor.”
CNBC reports that some folks with ObamaCare policies will be looking at the kind of sticker shock that could make them need immediate doctor’s care — premium increases next year that could be running 20% or more — adding thousands of dollars to the bills people pay simply to be insured as the law requires.
“Many Obamacare customers could be looking at surprisingly large price increases next year — if insurers get their wishes. Health insurance premiums for individual plans in major U.S. cities would rise by an average of 12 percent in 2016 if the newly proposed prices are approved, a new analysis finds.”
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In the midst of all the disconcerting news about ObamaCare rate hikes comes the president with his glib and sunny assessment of his signature legislation — a take on the law’s status that would seem to be completely at odds with the reality of potentially staggering price hikes. “It doesn’t need fixing,” Obama said only a few days ago, declaring that the law is working just fine…as it was intended.
Adding insult to injury for millions of Americans who rely on prescription drugs to improve their quality of life — or to keep them alive at all — we get word that the cost of those medications, on top of the cost of health insurance polices, is now skyrocketing. An article on Huffington Post — which, more often than not, is very friendly to Obama and his liberal allies — notes the sharp, upward trajectory in prescription drug prices.
There’s already been a lot of coverage about the rising cost of many generic medications, but far less has been said about the prices of established brand name medications.
Lately, these prices have gotten far worse because the price of most brand-name medications have been climbing much faster than the rate of inflation or even most other health care costs in this country.
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True to form, the writer of the HuffPo article — a man who identifies himself as a physician board certified in internal medicine — makes no mention whatsoever of the effects of ObamaCare in trying to explain the “shocking” price increases for critical drugs that millions of Americans routinely rely on. Without mentioning the law by name, the writer does indirectly point to ObamaCare’s masking of true costs when he says that “consumers seldom even see the actual price of most prescription medications and these prices are free to skyrocket without much limit or even anyone hearing much about it.”
Another report on why the prices of so many prescription drugs are rising so steeply — a report on Yahoo! News — also makes no mention whatsoever of ObamaCare’s role in creating economic conditions that tend to push up drug prices.
President Obama claims that his healthcare law is working because a lot of people have enrolled in ObamaCare and the sky hasn’t fallen in the years since he signed the law into effect. But keeping in mind that ObamaCare was supposedly designed to help bring down the cost of getting or staying healthy, one has to ask why the prices for so many prescription medications have been going through the roof and continue heading into the stratosphere.
As the Yahoo! News analysis points out:
The country’s largest pharmacy benefits manager, Express Scripts, estimates 576,000 Americans had prescription drug costs above $50,000 last year, up 63% from the year before. The number of patients with costs of $100,000 or more nearly tripled.
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