Tuesday President Obama tweeted that Obamacare would lower health insurance premiums. Today he tweeted a similar message. The link in the latter leads to this White House blog post touting the wonders of Obamacare.
Obama didn’t really show his work, though — the White House blog post makes assertions based on a Department of Health and Human Services report drafted for the purpose of promoting, not objectively critiquing, Obamacare — and here’s new evidence that he didn’t even do any work.
For months now, we’ve been waiting to hear how much Obamacare will drive up the cost of health insurance for people who purchase coverage on their own. Last night, the U.S. Department of Health and Human Services finally began to provide some data on how Americans will fare on Obamacare’s federally-sponsored insurance exchanges. HHS’ press release is full of happy talk about how premiums will be “lower than originally expected.” But the reality is starkly different.
Based on a Manhattan Institute analysis of the HHS numbers, Obamacare will increase underlying insurance rates for younger men by an average of 97 to 99 percent, and for younger women by an average of 55 to 62 percent. Worst off is North Carolina, which will see individual-market rates triple for women, and quadruple for men.
The government’s rosiest projections almost never turn out to be right. In the case of Obamacare, the president is knowingly sending out false information to defend a bad law that was designed to fail.