Remember this categorical assurance from President Obama?
“We’ll lower premiums by up to $2,500 for a typical family per year. . . . We’ll do it by the end of my first term as president of the United States”
OK, it’s probably a little unfair to take some June 2008 campaign “puffery” literally–even though it was reiterated by candidate Obama’s economic policy advisor, Jason Furman in a sit-down with a New York Times reporter: “‘We think we could get to $2,500 in savings by the end of the first term, or be very close to it.” Moreover, President Obama subsequently doubled-down on his promise in July 2012, assuring small business owners “your premiums will go down.” Fortunately, theWashington Post fact-checker, Glenn Kessler, honestly awarded the 2012 claim Three Pinocchios (“Significant factual error and/or obvious contradictions”).
Unfortunately, this has never settled the debate. When the Society of Actuariesestimated spring 2013 that the ACA would result in increasing claims costs by an average of 32 percent nationally by 2017, such estimates could be dismissed as “projections” since at the time of this study, actual premiums in the Exchanges had not yet been announced. A subsequent plethora of studies showed there had been double-digit increases in premiums (when comparing actual Exchange premiums to previously-prevailing premiums in the non-group market). However, virtually all of these studies focused only on Exchange premiums rather than premiums in the entire non-group market (only half of which consists of Exchange coverage). As a consequence, Obamacare proponents tended to dismiss these studies either as partisan attacks or methodologically limited, making what amounts to apples-to-oranges comparisons.To read the rest click the link:
