When candidate Obama promised that the average family would save $2,500 a year under his health care plan, many should’ve been skeptical.
How do you insure millions of people and keep costs down? The economics of ObamaCare relied heavily on enrolling healthy young, previously-uninsured individuals, who would be paying premiums but using a minimal amount of medical care, thereby subsidizing everyone else.
Predictably so, many would rather just pay a fine for not having insurance than enroll in ObamaCare.
In addition, under ObamaCare the average family has seen premiums rise by $4,865 since Obama’s promise in 2008.
Repealing ObamaCare wouldn’t only help the American citizen’s wallet, it would help the Federal Government’s as well. As a recent Congressional Budget Office study found (as reported by The Hill):
A GOP-led effort to repeal the biggest parts of ObamaCare would cost about $42 billion less than previously expected, saving more than a half-trillion dollars over a decade, the congressional budget scorekeeper said Monday.
Legislation to gut most of ObamaCare’s mandates and taxes, known as Restoring Americans’ Healthcare Freedom Reconciliation Act, would reduce the deficit by $516 billion over 10 years, according to the Congressional Budget Office (CBO).
The bill is expected to get a vote in the House this week, and it has already been approved by the Senate. President Obama has said he would veto the bill.
What has your experience with ObamaCare been like? Share your experiences in the comments section and share this post on Facebook and Twitter.