With Obamacare, Democrats enacted policy that was perfectly calibrated to send premiums soaring. That much was clear back when the law took shape over 15 years ago.
Democrats are panicking about a looming 75% average increase in the out-of-pocket cost of insurance premiums next year for the roughly 6% of the population that shops for coverage on Obamacare’s exchanges. Their panic led them to shut down the government at the end of September.
The increase is a function of the expiration at the end of this year of generous enhanced premium subsidies enacted by the Biden administration as part of the March 2021 American Rescue Plan Act and extended as part of the August 2022 Inflation Reduction Act. The complicated scheme of premium subsidies would return to the structure in force in 2014, when the exchanges opened.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
How Obamacare Set In Motion Today’s Premium Crisis
Sally C. Pipes
With Obamacare, Democrats enacted policy that was perfectly calibrated to send premiums soaring. That much was clear back when the law took shape over 15 years ago.
Democrats are panicking about a looming 75% average increase in the out-of-pocket cost of insurance premiums next year for the roughly 6% of the population that shops for coverage on Obamacare’s exchanges. Their panic led them to shut down the government at the end of September.
The increase is a function of the expiration at the end of this year of generous enhanced premium subsidies enacted by the Biden administration as part of the March 2021 American Rescue Plan Act and extended as part of the August 2022 Inflation Reduction Act. The complicated scheme of premium subsidies would return to the structure in force in 2014, when the exchanges opened.
Read the op-ed here.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.