Palmetto Promise Institute has been steadfast in opposition to the Affordable Care Act. Though healthcare costs are too high and insurance companies do wield far too much power, the legislation meant to remedy these issues – The Affordable Care Act – is actually unaffordable and the facts prove it.
We’ve argued from the beginning that the expansion of Medicaid in South Carolina would cost the state and the federal government too much money and not do the hard job of improving healthcare, lowering costs, and providing access to care for those who need it most. With smart legislation that empowers patients with choices and information, we can lower healthcare costs and ensure economic opportunity in our state.
Recently, Joseph Antos with the American Enterprise Institute and Joel White with the Council for Affordable Health Coverage penned an important article asking the question “Can We Afford Four More Years of Obamcare?” The authors make their case, writing:
“According to the Kaiser Family Foundation (KFF), average premiums in the workplace were up 24 percent for individual plans and 27 percent for family plans. The vast majority of privately insured Americans – 9 out of 10 – purchase coverage through their employers.
Cost-sharing grew even faster. KFF reports that the average deductible for all workers was $1,077 in 2015, up from $646 in 2010—a 67 percent increase.
Over the past 5 years, a typical family of four faced 43 percent higher health costs, including both premiums and out-of-pocket expenses. The Milliman Medical Index also shows that employer costs increased by 32 percent, from $10,744 in 2010 to $14,198 in 2015. That’s nearly $3,500 that could have gone into paychecks if health costs had not soared…HHS actuaries project that health spending will grow an average of 5.8 percent a year over the next decade.
The harsh reality is that middle class Americans will continue to see a shrinking standard of living until medical costs are tamed. Little wonder that voters are losing patience with politicians who promise more of the same.”
The Affordable Care Act has neither lowered costs nor insured all Americans, as President Obama promised it would do. Instead it has sent premiums soaring and added a huge burden to already fragile Medicare and Medicaid programs. South Carolina cannot afford four more years of ObamaCare!