The headline reads, “Democrats Admit Obamacare Raises Health Insurance Premiums.”
According to the non-partisan CBO, under Obamacare, health insurance premiums were projected to rise by an average $13,100 per family if no bill had passed at all and by $15,200 under the Democrats’ new Obamacare law. That’s an increase of $2,100.
Everyone who knew anything about the plan knew this was going to happen. But when you read the article, the rise in premiums isn’t the most interesting (troubling?) part of the article. In my book, this is far worse:
According to the Times report, Sen. Dianne Feinstein (D-Calif.) is prepping new regulations that would give the secretary of Health and Human Services the power to block health insurance rate increases.
What she is considering is nothing less than price controls on the health insurance industry. For those who simply hate the health insurance industry, this doesn’t sound like a bad thing. But you have to look past step one.
Price controls follow a predictable path. First, they create shortages. Companies simply will not be able to sustain a profit if they are required to provide a service for less than the cost to provide it. They’ll just stop offering health insurance.
Which is the goal: to eliminate the private sector involvement in the health care industry, creating a vacuum that government fills with a single payer system.
Barney Frank explains this was part of the plan to begin with:
The goal was to start with a public option. While that wasn’t included in this health care bill, the camel still has his nose under the flap of the tent. Bit by bit, the camel will creep in until there’s no room for anything else but single payer.