Administration’s Broken Promises Result in Rising Monthly Payments
Administration's Broken Promises Result in Rising Monthly Payments
Subsidies Cost Billions and Not Enough to Support Individuals under Changing Plans
(Washington, D.C.) – According to an independent analysis of the Affordable Care Act by consulting firm Avalere Health, consumers who receive taxpayer assistance to defray the cost of monthly premiums may see their costs rise significantly should they choose to keep their existing plans. According to the White House, approximately 8 million Americans purchased insurance through the exchanges, with nearly 90 percent depending on taxpayer assistance. All subscribers would potentially be affected by the new rate increases.
The taxpayer-funded subsidies are on track to cost taxpayers at least $11 billion this year, an amount that will only increase as premiums rise. That number doesn't take into account the subsidies provided to those who purchased off the individual state marketplaces, which would push the total price tag to an estimated $16.5 billion dollars.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
"We have yet another example of the sad reality of the so-called Affordable Care Act. Obamacare is once again putting Americans in the difficult position of having to figure out whether they can keep their current coverage and how they will make ends meet. All the while, Americans are picking up the high cost of the health care law. This is the sad result of broken promises and unfulfilled commitments.
Despite whether the president and his allies meant well, we get reminders every day that our health care system is too complex to be improved with more mandates, regulations and price-fixes. Instead of subverting the market and getting in the way of individual's decisions about what works best for them, President Obama and his allies in Congress should focus on providing real solutions that reduce unnecessary spending and provide Americans with the relief they need. That starts with reforms that put patients back in charge of their health care decisions – not government."
For interviews with a LIBRE representative, please contact: Brian Faughnan, 703-678-4581 or Steven Cruz, 202-578-6173.