2017 may be the year that Obamacare blows up. The number of mandated free coverages and other government requirements on the insurance companies is causing premiums to shoot up. It has also caused many of the insurance companies that once participated to drop out of the program, meaning less competition and sending premiums even higher.
An editorial in the Daily Oklahoman cites a buyer who paid $318 per month in Obamacare’s first year. In 2017, he will have to pay $716 a month. With a $2,500 deductible. And his dental and vision plans have been dropped.
Yes, low income customers can get government subsidies, which will also have to go up, adding to the deficit. But even then, the deductibles have become so high that many of the uninsured are still hard-pressed to pay their medical bills even with their government-mandated insurance. [Read more…]