Medical device manufacturers say they would have to lay off workers and curb the research and development of new medical tools as a result of ObamaCare’s 2.3 percent tax on medical devices — a tax which would cost these companies an estimated $20 billion over the next decade.
According to a survey by the Council of Insurance Agents And Brokers, the vast majority of employers face raising insurance costs and pass those costs to their employees, despite President Obama’s promises that families would see their annual premiums reduced by $2,500.
Disproving ObamaCare’s promise that “if you like your plan, you can keep your plan,” a health insurance company offering high-deductible policies to be coupled with health savings accounts is closing after only two years of operation because they will be unable to meet the new burdens of ObamaCare, leaving consumers with less choice and less competition.
After a series of projections by independent experts and revelations by businesses, Americans are becoming increasingly aware that ObamaCare is anything but a cost-cutter.
As the true costs of ObamaCare keep coming to light, Americans’ desire for repeal — merged with their concerns over jobs, spending, and deficits — will likely produce a “wave” election.
The Federal government was given broad discretion to implement regulations limiting the profits of insurance companies by regulating their “medical loss ratio,” but a board of state insurance regulators missed a key deadline to provide guidance to HHS which could delay implementation and cause uncertainty for insurers and businesses.
“The President repeatedly promised that if you liked your health plan, you would be able to keep it. Nothing would change. Fat chance.”
The administration’s inability to meet several ObamaCare deadlines, including a deadline for simply publishing a list of its own new authorities under the overhaul, does not inspire confidence in its capacity to manage a sixth of the economy.