Would You Like a 40% Tax to Go Along With Your High-Cost Family Healthcare Insurance?

March 23rd was the 6th anniversary of ObamaCare.  In typical fashion, the President celebrated all the supposedly goods things (through careful cherry picking) it has done for America.  Of course, he never mentions the bad things that this law has done.  One such "good" claim is that it has slowed the cost increases for medical care.  Well, tell that to the average family of four who has seen the following start to rise again, after falling, before the law actually went into effect:

In fact, the Kaiser Family Foundation expects that the average cost of insurance through ObamaCare will go up 10.1% in 2016; making it one of the biggest yearly jumps in healthcare costs since ObamaCare was passed.

More importantly, the cost of employer-sponsored insurance is just 11-1/2% away from triggering ObamaCare's 40% Cadillac tax on any family healthcare policy that costs more than $27,500 by 2020.

Even if costs only increase at a low of 5.4% per year from now forward, the average family will see that 40% threshold easily achieved by 2020 when that tax kicks in.  One can only guess what the cost of a family insurance plan will be then if those 10.1% or higher premium increases are seen.

One last thing.  While 2010's costs are shown on the 2nd chart, mathematically, we can back into that number from the 7.3% increase in 2011 seen in the first chart.  This means the average cost was $18,753 in 2010.  That also means that the average premium costs have risen $5918 or 32% since ObamaCare became law.  Not at all consistent with Obama's claim that the average family would see a $2500 savings on their healthcare premiums.

References:

7 Obamacare failures that have hurt Americans - MarketWatch: http://www.marketwatch.com/story/7-obamacare-failures-that-have-hurt-americans-2016-03-24

ObamaCare Is Sick, And Getting Sicker, Report Finds: http://www.investors.com/politics/editorials/obamacare-is-sick-and-getting-sicker-report-finds/

2015 Milliman Medical Index: http://www.milliman.com/mmi/

Analysis of 2016 Premium Changes in the Affordable Care Act’s Health Insurance Marketplaces: http://kff.org/health-reform/fact-sheet/analysis-of-2016-premium-changes-in-the-affordable-care-acts-health-insurance-marketplaces/

Affordable Care Act Cadillac Tax: http://www.cigna.com/health-care-reform/cadillac-tax