Government regulations aimed at helping the poor almost always harm the poor. After 6 years, the Affordable Care Act is increasingly harming the poorest Americans.
In March, the Obama administration celebrated the Affordable Care Act’s anniversary by proudly declaring, “Thanks to this law, 20 million more Americans now know the security of having health insurance, and our uninsured rate is below ten percent for the first time on record.”
But new research reveals that health care costs are rising just as fast as they rose before Obamacare. And wage growth rates are going lower.
And in addition to rising premiums and falling wage growth, deductibles have also grown in recent years. According to data made available by the Robert Wood Johnson Foundation and analyzed by Freedom Partners, only five states and Washington, DC, saw average Obamacare exchange deductibles decrease from 2015 to 2016. Twenty-one states had average Obamacare deductibles rise by $300 or more, including eight states with deductible increases topping $500.
Lower-cost “Bronze” plans experienced the most significant deductible increases, hurting lower- and middle-income families. Average Bronze plan deductibles fell from 2015 to 2016 in only two states: Alaska and Arkansas. In 34 states, Bronze plan deductibles rose by at least $500. See here.
