Supreme Court Ruling on ObamaCare to Boost Insurance Premiums

By:  Brian Koenig
07/02/2012
       
Supreme Court Ruling on ObamaCare to Boost Insurance Premiums

 Now that the Supreme Court has delivered its final verdict on ObamaCare, which upheld the law’s contentious individual mandate, insurance providers and industry groups are warning of even greater premium increases on Americans’ health plans. While President Obama touted the law as a cost-savior for the healthcare industry — going so far as to call it the “Affordable Care Act” — insurance premiums have consistently risen ever since the law was enacted.

 Now that the Supreme Court has delivered its final verdict on ObamaCare, which upheld the law’s contentious individual mandate, insurance providers and industry groups are warning of even greater premium increases on Americans’ health plans. While President Obama touted the law as a cost-savior for the healthcare industry — going so far as to call it the “Affordable Care Act” — insurance premiums have consistently risen ever since the law was enacted.

America’s Health Insurance Plans (AHIP), the industry’s chief lobbying group, issued a statement following the ruling, stressing the importance of “secure, affordable coverage choices,” but saying that “major provisions, such as the premium tax, will have unintended consequences of raising costs and disrupting coverage unless they are addressed.” AHIP CEO Karen Ignagni suggested that due to the inflated costs, “it’s time for people to roll up their sleeves and look very carefully at those provisions.”

Proponents of the law claim ObamaCare will eventually lead to a sharp reduction in insurance premiums because there will be an overall larger pool of insured Americans. FamiliesUSA, an advocacy group for the healthcare industry, called the Supreme Court’s ruling a “clear, unambiguous and complete victory for long-overdue health care reform.”

The group added that the law’s new regulations on insurance providers will also help consumers. "No one will be denied health coverage or charged a discriminatory premium due to a pre-existing condition, such as children with asthma or diabetes,” it said in a press release. “People with major health problems, like those in car accidents, will be protected against arbitrary lifetime or annual limits in how much insurance companies will pay for needed care.”

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Photo: Senior couple shocked by the high cost of their medical billsvia Shutterstock

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