Health Insurance Premiums Surge Despite Obama's Promise to Cut Them

Tuesday, 25 Sep 2012 09:16 AM

By Martin Gould

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Health insurance premiums have shot up by more than $3,000 per family in the past four years — despite Barack Obama’s 2008 campaign promise to reduce them by $2,500.

The cost of the average policy has risen by $3,065 since then-candidate Obama made his pledge, an Investor’s Business Daily survey reveals. They have gone up by $2,370 since he entered the White House in 2009.

“What's more, premiums climbed faster in Obama's four years than they did in the previous four under President Bush, the survey data show,” the Daily reports.

The newspaper says that Obama promised in February 2008, "We are going to work with you to lower your premiums by $2,500. We will not wait 20 years from now to do it, or 10 years from now to do it. We will do it by the end of my first term as president." He made similar promises throughout the campaign.

But he has signally failed to deliver on his promise that cutting bureaucracy, investing in technology and improving management of chronic diseases would cut health costs by $140 billion a year, Investor’s Business Daily says.

“Those projections were wildly optimistic, overestimating potential savings from IT, making big assumptions about disease management, and ignoring the fact that past government interventions have always increased health care administrative costs.”

The introduction of Obamacare has raised costs still further and they will continue to go up, the magazine says.


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