But Barack Obama promised that the average family would save $2500 under Obamacare?!
As it turns out, pretty much nothing that Obama and his healthcare “experts” predicted about Obamacare actually came true. With 2017 rates now finalized across the country, in fact, Obamacare premiums are expected to increase an average of 25% nationally according to data from the Kaiser Foundation. Meanwhile, the 10 hardest hit states will see premiums increase an average of 62% while Arizona is officially the biggest loser with rates in Phoenix soaring 145%.
Of course, as we’ve pointed out before, these skyrocketing rates could inevitably toss the entire Obamacare system into a death spiral from which it may never recover. In order to function properly, Obamacare required a substantial number of young/healthy people to sign up on the exchanges…we call it the “Young & Healthy Tax.” Unfortunately, many young/healthy people decided that they would rather not pay their “Young & Healthy Tax” and decided instead to pay the penalties associated with just not having healthcare at all. These shortfalls in new participants, of course, resulted in hundreds of millions of dollars in losses for health insurers who, in hindsight, miscalculated their risk pool. These losses have now resulted in the massive premium spikes we’re currently seeing which will likely just result in even lower sign ups until the entire system eventually just collapses.
Read the rest of the article on Zero Hedge