Report finds that despite billions in costs and promises of reductions in premiums, ObamaCare has done nothing.

When Barack Obama signed ObamaCare into law six years ago,  he hailed the massive expansion of federal control over the U.S. economy as necessary to not just stop the rising costs of health insurance premiums, but to reverse them and bring premiums down.
Obama continued to promise his program would reduce health care premiums two years later in his re-election campaign.

“So when you hear about the Affordable Care Act — ObamaCare — and I don’t mind the name because I really do care. That’s why we passed it,” Obama said in a July 16, 2012 campaign speech in Cincinnati. “You should know that once we have fully implemented it, you’re going to be able to buy insurance through a pool so that you can get the same good rates as a group that if you’re an employee at a big company you can get right now — which means your premiums will go down.”

In fact, Obama repeatedly and specifically promised health insurance premiums would decline by an average of $2,500 per family per year under ObamaCare.

But six years after it went into effect, that hasn’t happened.

A new report finds that, despite costing billions, ObamaCare has had no effect on health care costs.
According to research released March 23, 2016 by Freedom Partners:

The reality is that the law has failed to relieve families of the burden created by rising health care premiums. The EOP’s [Executive Office of the President] 2009 report bemoaned a 5.5 percent increase in premiums between 2008-09, but the first year after ObamaCare was enacted, premiums increased by 9.4 percent from 2010-11. Since that time, the upward trend in prices has continued. From 2014-15, the average annual family premium for employer-sponsored health insurance increased 4.2 percent to $17,545.

 Costs have continued to rise at the state level, as well. In 2009, when the EOP issued its report, states had seen premiums increase on average by 30 percent between 2004 and 2009. But since 2009, health insurance premiums have continued to grow faster than wages in nearly every state, averaging a 28 percent increase from 2009 to 2014, resulting in a greater amount of disposable income being consumed by rising premiums.

Not only are health care premiums still rising under ObamaCare, they are rising faster than wages and inflation.

The report also finds:

As indicated by the national trends, health care premiums have continued to rise faster than wages in the post-ObamaCare years. From 2009-2014, premium growth has ranged from 13.8 percent in Wyoming to 42.6 percent in Oklahoma. To make matters worse, wages have risen slower in the years since the 2009 report was issued, but health care premium costs have not slowed. From 2004-2009, premiums went up by an average 30.2 percent across the nation, while wages went up 12.2 percent on average. Between 2009-2014, premiums went up 27.9 percent while wages went up only 7.8 percent. Premiums have increased faster than wages in 47 states, and they have outpaced wages by double-digit increases in 36 states.

The report is yet more proof that not only is ObamaCare a public policy disaster, it is putting additional stress on a feeble economic recovery and could send the U.S. back into recession unless repealed quickly.