Tuesday, May 11, 2010

Obamacare Begats Mommy and Daddy Care

The Patient Protection and Unaffordable Health Care Act (Obamacare) requires health insurance companies to allow children to stay on (or even return to) Mommy and Daddy's health insurance plan.

This is not news. We have posted this before. But like all of the other financial aspects of Obamacare, the facts don't match the hype.

The Heritage Foundation reports this on KiddieCare.

Beyond keeping the “Big Kids” dependent on Mommy and Daddy, it also directly undercuts the President’s famous campaign promise that American families would see a $2,500 reduction in their annual premiums.

Now, we learn that family premiums will rise about 1 percent in 2012 just from this one provision of the new law. It will cost $3,380 for each dependent in 2011, according to this Associated Press report.

Wonder if Mommy & Daddy will pass that premium increase on to their children, or wait until they officially become adults at the ripe old age of 27?

But wait, there's more!

health insurance premiums will rise from Obamacare’s new taxes on drugs, medical devices and new insurance fees, plus new insurance rating rules and the yet to be determined health benefit levels that the imperial Feds say must be included an acceptable health insurance plan.

So, how is this hopey-changey thing working out for you folks?
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