From Investors Business Daily.
Released into a news black hole last Friday, an official Obama administration report finds that ObamaCare will push premiums up for two-thirds of small businesses. Cross off another ObamaCare promise.
The report came from the actuary for the Centers for Medicare and Medicaid Services — which means it’s from the administration’s official ObamaCare number cruncher.
What it found was that 65% of small businesses that offer insurance will likely see their premiums rise thanks to ObamaCare. That translates into higher insurance costs for 11 million workers.
The reason? These companies generally employ younger, healthier workers and so had been paying lower-than-average rates.
But since ObamaCare bans insurance companies from considering health when setting premiums, these companies will get hit with higher costs.
“We are estimating that 65% of small firms are expected to experience increases in their premium rates,” the report said, “while the remaining 35% are anticipated to have rate reductions.”
The report doesn’t say how big these hikes will be, but we have good reason to believe the extra costs will be significant.
One study, for example, found that 63% of small employers in Wisconsin will see premiums jump 15% because of ObamaCare. A separate study found that 89% of small companies in Maine would see rate hikes of 12% on average.
Another, by consulting firm Oliver Wyman, concluded that ObamaCare would push up small group premiums nationwide 20%.
Is this how the bill was sold to us by the Obama administration and their supporters in the mainstream media?
In 2009, Obama promised small businesses that his plan would “make the coverage that you’re currently providing more affordable.” Later he said it would drive small-business premiums down by 4% in its first year, and as much as 25% by 2016.
As recently as last summer, Pelosi was proclaiming that “if you’re a small business … it lowers costs,” while Waxman said the law would make “high-quality healthy insurance more affordable and more widely available for small businesses.”
Notice that nowhere — either before or after ObamaCare passed — did any Democrat say anything about two-thirds of small businesses paying more for health coverage so the lucky one-third could get rate cuts.
Next time you hear a big government liberal promising you goodies at no cost, keep in mind their record. They are making policy from emotions, not from mathematics. They believe that they are lying to you for your own good. Their goal is not to tell the truth at all. And don’t rely on the left-wing journalism crowd to hold them accountable, they flunked math too.