January 17, 2013
Obama's 'Affordable Care Act' Begins Hitting Individuals and BusninessesTopics:
Hmm.., surely to know one's surprise (except of course to Obamabots), that so-called "Affordable Care Act" is turning out to be, as expected, not so affordable: Via Fox News:
While the most sweeping provisions of the health care overhaul have not yet gone into effect, plenty of Americans will still be paying higher insurance premiums this year -- as insurance companies try to preemptively cover the cost of a tax increase included in President Obama's Affordable Care Act.Not good news ... but if this sounds bad, brace yourself. It's only going to get worse ... much worse.
That tax doesn't take effect until next year, when other major provisions like the so-called "individual mandate" and insurance subsidies also kick in. But that hasn't stopped insurance companies from charging higher premiums this year to cover the hike, as well as the cost of ObamaCare benefits such as free birth control and preventive care.
Premiums for individuals and small businesses are projected to increase due to the tax by roughly 2 percent this year and by as much as 3.7 percent in 2023, according to a widely cited analysis by the insurance industry.
Posted by Hyscience at January 17, 2013 9:46 AM
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