The House Committee on Ways and Means held a full committee hearing on Tuesday, July 12, 2016 to discuss rising health insurance premiums under the Affordable Care Act (ACA).

W&M MEMBERS HIGHLIGHT THE RISING COST OF OBAMACARE

Premiums Rise as Choices Decline

 JULY 12, 2016 — BLOG    

Today, the Ways and Means Committee, chaired by Rep. Kevin Brady (R-TX), held a hearing on the rising cost of health care premiums under the Affordable Care Act. Members and witnesses discussed how the law’s top-down, one-size-fits-all mandates and regulations have driven up premiums and out-of-pocket costs while limiting access to the care patients need and deserve.

As Chairman Brady said at the start of the hearing:

“Over six years have passed since President Obama and Democrats in Congress drafted the Affordable Care Act behind closed doors and forced it into our homes, workplaces, and doctors offices. Since then, the law has been one broken promise after another – starting with the promise in its very title: ‘Affordable.’ Millions of Americans have seen the cost of health care increase to astonishing levels while quality, choice, and access have hit new lows.”  

He continued:

“The truth about this law is that it has never expanded access to affordable, high-quality health care of an individual’s choosing – and it never will.“

Despite billions of taxpayer dollars pouring into the ACA, the law is failing to deliver on its promises. Just yesterday, President Obama admitted that the government-run marketplace he himself championed has failed to make health care affordable for many Americans.

According to the Council for Affordable Health Coverage, median proposed premiums are expected to rise by an average of 19% next year – the second year in a row Americans face a double-digit premium increase – with no end in sight. Joel White, President of the Council for Affordable Health Coverage, discussed what these failures and rising costs mean for patients:

“Health costs are too high and rising too fast. In fact, costs continue to rise faster than the economy, while premiums are increasing about three times faster than wages. As a result, by 2030 the typical family will spend more than 50 percent of their income on health care.”