April 30, 2024
Obamacare’s Failed Promises
Obamacare and the Affordability Crisis in Healthcare
The Affordable Care Act, known as “Obamacare,” became law in 2010. President Obama promised the law would “reduce the costs of health care” and stated that “families will save on premiums.[1]” After 14 years, the facts do not support these promises:
- Premiums have increased by 80%.
- From 2010 to 2023, the average premium for family coverage increased 80%, from just over $13,000 to nearly $24,000.[2]
- Total healthcare costs for a family of four now exceed $30,000 per year—increasing from $18,000 per year when Obamacare was passed.[3]
- Deductibles have increased over 50% since Obamacare was implemented in 2013.[4]
Obamacare put Government & Insurance Bureaucrats in Control
- It is often harder to get the care you need than it was before Obamacare due in large part to more restrictive provider networks.[5]
- Obamacare encouraged and caused healthcare monopolies.[6]
- Obamacare imposed a cap on health insurance profits through the Medical Loss Ratio provision. To evade the cap, insurers bought pharmacy benefit managers, pharmacies, and doctors’ offices and now channel profits through those entities.[7]
The Health of Americans is Suffering
- The life expectancy of Americans is shorter than that of comparable developed countries.[8]
At AFPI, we believe doctors and patients should be in control in order to have a healthy America.
Read the Center for a Healthy America’s full policy agenda at Pillar II | The America First Agenda.
[1] PolitiFact | Obama said health care reform will reduce the cost of health care
[2] 2021 Employer Health Benefits Survey (Cost of Health Insurance – 9805) | KFF; 2023 Employer Health Benefits Survey (Summary of Findings – 10240) | KFF
[3] 2010 Milliman Medical Index; 2023 Milliman Medical Index
[4] 2013 Employer Health Benefits Survey | KFF; 2023 Employer Health Benefits Survey (Summary of Findings – 10240) | KFF
[5] 2020 Exchange Plan Networks Are the Most Restrictive Since 2014 | Avalere, December 11, 2019
[6] https://www.wsj.com/articles/i-was-wrong-about-obamacare-1469997311
[7] https://www.warren.senate.gov/imo/media/doc/2023.11.21%20Letter%20to%20HHS%20OIG%20regarding%20MLR%20evasion.pdf
[8] How does U.S. life expectancy compare to other countries? - Peterson-KFF Health System Tracker