Obamacare's Latest Premium Hike: Compare and Contrast

by Benjamin Domenech on 7:18 am May 11, 2010

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Obama: Health Reform Already Benefiting Americans.

“He said the bill has also put more power in the hands of patients and out of the hands of insurance companies. ‘For too long, we have been held hostage to an insurance industry that jacks up premiums and drops coverage as they please,’ Obama said. He added, ‘But those days are finally coming to an end.’”

AP: Get Ready for Higher Premiums

The provision of the new health law that allows families to keep young adults on their policies up to age 26 “will nudge premiums nearly 1 percent higher for employer plans, the government said in an estimate released Monday.” HHS “released estimates of the costs and benefits of the requirement as part of a regulation directing employers and insurers how to carry it out. … The new benefit will cost $3,380 for each dependent, raising premiums by 0.7 percent in 2011 for employer plans, according to the department’s mid-range estimate. Some 1.2 million young adults are expected to sign up, more than half of whom would have been uninsured.”

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