by JOEL B. POLLAK –
President Barack Obama promised that Obamacare would cut family health insurance premiums by $2,500 by the end of the first term–but instead they have risen by $3,000, according to a new Kaiser Family Foundation study cited by Investor’s Business Daily.
The cost of health insurance today is more than 50% higher than Obama promised it would be–and the costs are expected to continue to rise as Obamacare is impemented.
John Merline of Investor’s Business Daily notes the rising costs specifically contradict a campaign promise Obama reiterated several times, including in debates with Sen. John McCain (R-AZ) and at events along the 2008 campaign trail.
Furthermore, the data show that the rise in family premium costs, largely attributable to the costs of complying with Obamacare, has outpaced the rise in costs under eight years of George W. Bush.
Health insurance companies have already been required to provide additional coverage for so-called “children” up to age 26, among other changes. That coverage is described by Obama as “free,” but in fact the costs are borne by other patients.