Health Care Reform Will Increase Health Insurance Premiums

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Are you ready to pay an additional $4,000 per year in health insurance premiums? According to a new study, the Baucus bill will result in skyrocketing premiums for Americans.

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Once the plan is fully phased-in (by 2019), a typical family of four would pay an extra $4,000 each year.

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When combined with existing inflation, costs would rise from today’s $12,300 annual average to $25,900. Of that 111% increase, $9,600 is due to existing factors uncorrected by the legislation, and $4,000 due to additional costs created by the legislation.

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For single persons, the differential is projected at $1,500 a year. Premiums would rise from today’s $4,600 a year to $9,600 overall.

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Prepared by Price Waterhouse Coopers (PWC), the new analysis was requested by AHIP—America’s Health Insurance Plans. It focuses on the leading plan pending in Congress, sponsored by Sen. Max Baucus (D, MT), which is scheduled for a Senate Finance Committee vote on Tuesday. The PWC report can be read here.

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The PWC projections track what The Heritage Foundation and many others have said about the legislation: It does not save money. It simply taxes those who have health coverage and uses the money to give care to others.

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The White House is said to be livid.

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I think it’s time they scrap every plan on the table and start over. They can begin with tort reform which won’t cost taxpayers a penny. There are plenty of options that don’t inclue a government take over of health care and won’t drive the cost of insurance up for responsible Americans.

Fox News covered the story this morning.

Video via Breitbart