Obamacare should make healthcare cheaper—just not right away
This week, the Society of Actuaries threw a wrench into President Obama's persistent assertions that his health-care overhaul is driving down the cost of health care. The nonpartisan professional association for insurance assessors came out with a report saying that medical claims—the biggest driver of premiums—will rise 32 percent (PDF) over the next three years because of Obamacare. In states such as Ohio and Wisconsin, the group expects the cost of claims to go up by 80 percent. The study predicts that as states set up health insurance exchanges, people who are currently insured through state-sponsored high-risk pools will move into the private market, raising rates for everyone else.
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