Obamacare anniversary leaves nothing to celebrate
Obamacare denied Coloradans right to choice and freedom in health care
DENVER—Today marks the anniversary of Obamacare. Six years ago President Barack Obama signed the so-called Affordable Care Act into law. In Colorado, hundreds of thousands of people have lost their health care plans and premiums have increased as high as 30.8 percent. The health care law also authorized the 2016 ballot proposal ColoradoCare, which seeks to triple Coloradans’ taxes to finance a single-payer system at the state level.
Colorado Sen. Michael Bennet was the key vote that led to the passage of the president’s government takeover of health care. He lied during debate on the legislation, falsely claiming “If you have coverage and you like it, you can keep it. We will not take that choice away from you.”
In 2014, Bennet, told reporters at the Democratic Senate Campaign Committee’s headquarters that the law was more likely to be a boon to Democrats on the November 2014 ballot. He falsely claimed, ““People are going to be insured at a lower cost and all the other benefits.”
Advancing Colorado Executive Director Jonathan Lockwood released the following statement:
“Coloradans were sold an outright lie when Sen. Michael Bennet told us that we could keep our plans, keep our doctors and that our health care costs would go down. We have seen the exact opposite materialize in Colorado with huge spikes in health care premiums and hundreds of thousands of our friends, neighbors and family have lost their plans. Bennet essentially worked to deny health care choice and freedom to his constituents and as a result people are fearful of what might happen to them.”
The per-person charge from the federal government for not having health insurance in 2016 jumps to $695 per adult and $347.50 per child, topping out at $2,085 per family.
The Centers for Medicaid and Medicare (CMS) announced it would only reimburse the nation’s health insurers $362 million out of $2.9 billion promised. Colorado HealthOP was expecting over $16 million in risk corridor payments but would only receive $2 million.
Last year, the Colorado Division of Insurance (DOI), within the Department of Regulatory Agencies (DORA) took action against the Colorado Health Insurance Cooperative (HealthOP).
The DOI took this action according to their press release, “as the financial viability of the cooperative came into question after “learning it would receive considerably less money than expected from a federal, risk-based reimbursement program” known as “risk corridor.”
The Congressional Budget Office (CBO) has released a report that the Affordable Care Act (ACA), better-known as Obamacare, will “make the labor supply, measured as the total compensation paid to workers, 0.86 percent smaller in 2025 than it would have been in the absence of that law.”
The workforce is projected to be about 2 million full-time-equivalent workers smaller in 2025 under the ACA than it would have been otherwise. Health care reform advocates, free-market advocates and the business community and labor unions have universally criticized the health care law.
At leaset five health care stocks in the S&P 500 dropped 5 percent or more, including hospitals Tenet Healthcare (THC) and HCA Holding (HCA) and insurers Aetna (AET), Anthem (ANTM) and UnitedHealth (UNH), according to a USA TODAY analysis of data from S&P Capital IQ.
Obamacare co-ops are failing across the country and fewer than half of the 23 co-ops are functional, let alone on solid financial footing.
According to Watchdog, ”the national debt exceeds $19 trillion, but Obamacare promises federal funding for 100 percent of Medicaid expansion benefits through 2016.” By 2017, states will have to pay for 5 percent of benefit costs and that will rise to 10 percent by 2020.
The Obama Administration hoped for about 40 percent of enrollees to be between the ages of 18 – 35, but they currently only make up about a quarter of participants.
Experts have predicted the failed law will increase costs for the average family of four by more than $7,400 between 2014 and 2022.
Spikes in healthcare costs have not gone unnoticed by American families. In fact, recent polls reveal only 15 percent of people say they have personally benefited from the law. Almost double that number, 26 percent, say they have been personally harmed by it.
ColoradoCare, Amendment 69, is the single-payer 2016 ballot question proposing a $25 billion-a-year income tax hike. The proposal seeks to entitle an unaccountable, taxpayer-funded bureaucracy with 100 percent control over health care. The new taxpayer-funded system will be exempt from the Taxpayer’s Bill of Rights (TABOR).