The False Promise of Affordable Health Care

Over a decade ago, then-President Barack Obama introduced the Affordable Health Care Act, also known as “Obamacare.” The program was touted as a solution to provide affordable and quality health insurance to uninsured individuals and small businesses. However, the reality has been far from affordable.

The Soaring National Debt

The nonpartisan Congressional Budget Office predicts that our national debt will nearly double in the next 30 years, with health care costs being a major contributing factor. By 2030, federal health care spending is projected to increase by 78%, surpassing all other categories.

Skyrocketing Health Insurance Premiums

Since 2000, the average annual health insurance premiums for families have surged by a staggering 267%, far exceeding the rate of inflation. In 2000, families spent around $6,000 per year on premiums, but by last year, the average cost had reached $22,000.

Under “Obamacare,” premium costs are expected to rise by approximately 6% next year. Employer coverage is also projected to increase by around 6.5% in 2024, adding to the already high price tag for employer plans.

Rising Hospital Costs and Staffing Crisis

Hospital costs play a significant role in the overall increase in health care expenses. Hospitals are demanding more money from insurers, contributing to inflation in the health care industry. Additionally, the COVID-19 pandemic has led to longer working hours and increased retirements among health care workers, resulting in a staffing crisis.

The Biden Administration’s Approach

In an attempt to address the health care crisis, the Biden administration, which includes former Obama White House staff, has expanded Medicaid through the American Rescue Act. This expansion, along with the aim to enroll more Americans in Medicaid, will further drive up federal health care expenses.

Furthermore, the Inflation Reduction Act, signed by President Biden, mandates government-set prices for Medicare-covered medicines. This policy has raised concerns about limited access to drugs for older Americans and a potential decline in health care innovation.

Looking ahead to the 2024 election, President Biden plans to crack down on short-term health insurance plans, which he considers “junk.” This action will reduce choices in the marketplace and inevitably lead to higher prices for available plans.

A Failed Attempt at Health Care Reform

As Ronald Reagan famously said, “The most terrifying words in the English language are: I’m from the government, and I’m here to help.” Unfortunately, the Democrats’ efforts to tackle our nation’s health care crisis have only made it worse.