More bad news about ObamaCare: A report released yesterday says it will make Americans dig deeper into their own pockets to pay for their health insurance.
A lot deeper.
Indeed, the Pricewaterhouse Coopers report says the Senate Finance Committee’s bill — which members may vote on as early as today — could jack up the average insurance premium by as much as $4,000.
And it will hit folks who buy their insurance directly — as well as those who get coverage through their jobs.
This is on top of the $829 billion, 10-year tab Democrats admit their health-care bill will add (itself a low-balled figure).
Why such stiff hikes in premiums, when President Obama and his fellow Democrats have been vowing to cut health-care costs?
For starters, the Senate bill requires insurers to accept individuals with “pre-existing conditions” — i.e., people in poor health. That will certainly raise the cost of coverage.
Premiums from healthy folks were supposed to offset those costs; the Senate’s plan was going to require everyone, healthy or sick, to have insurance.
But senators backed down from stiff penalties on some folks without coverage. So many are likely to stay uninsured — at least until they get sick.
Insurers will wind up having to cover a greater share of unhealthy individuals — and so be forced to raise premiums across the board.
On top of that, so-called “Cadillac” plans — higher-cost policies with better-than-average benefits — would face a stiff new tax. Other taxes and fees will drive up costs further still.
Bottom line: By 2019, “reform” would add as much as $4,000 to the average family’s premium and $1,500 to an individual plan.
It’s madness.
Clearly, this is the kind of “reform” that can use some, well, reform of its own.
Better yet, Democrats should give Americans a break — and go back to the drawing board on health care.