Ed Morrissey took note of Hillary’s retreat from her previous support for ♡bamaCare!!!’s “Cadillac tax,” and says that’s just the beginning of a “long torturous retreat” for Democrats from the Totally Settled Law of the Land™.
Delaware announced approval for premium hikes of 22.4 percent, while AIS’ Health Business Daily reported last week to its subscribers on a long list of approvals by states for double-digit premium increases.
The list includes key swing states such as Florida (16.2 percent for UnitedHealth, 13.9 percent for Aetna), Iowa (19.8 percent for an Aetna subsidiary), and Michigan (average increase of 11.4 percent across all 14 plans). The Street’s Brian O’Connell reported that insurers “are just now starting to get a firm grip on costs,” which has been complicated by “the underlying growth in health care costs,” and premiums may rise again by as much as 40 percent in some states.
Remember when President Obama promised that Obamacare would “bend the cost curve downward,” and that the exchanges would broaden consumer choice? Instead, consumers have seen premiums repeatedly skyrocket, and choices for less expensive coverage evaporate. AIS notes that Blue Cross Blue Shield will pull out of New Mexico, cutting 35,000 individual-market customers after losing over $19 million in 2015.
Related: Obamacare—Still Failing and Picking Your Pocket
Why? The company was denied an application for a 51.6 percent average increase for its plans. Other insurers have shut down operations in state exchanges as well, or blinked out of existence altogether. O’Connell also points out that Obamacare has resulted in a series of mergers among insurers, noting, “Less competition means higher prices.”
So it’s really no surprise to see Democrats backing away from Obamacare.
That Means It’s Working™