Via Daily Mail:
The Obama administration has directly conceded for the first time that ‘in many cases,’ health insurance plans offered through government exchanges are more expensive than plans consumers bought before the Affordable Care Act became law – even when government subsidies are figured in.
In a letter to state insurance commissioners, Center for Consumer Information and Insurance Oversight director Gary Cohen wrote on Thursday that one reason for the new Obamacare measures the president announced Thursday is that millions of consumers receiving cancellation letters from their insurers are learning the Affordable Care Act options are in fact less affordable.
‘Although affected individuals and small businesses may access quality health insurance coverage through the new Health Insurance Marketplaces,’ Cohen wrote, ‘in many cases with federal subsidies, some of them are finding that such coverage would be more expensive than their current coverage, and thus they may [be] dissuaded from immediately transitioning to such coverage.’
His written statement contradicts President Obama’s campaign promises that the Affordable Care Act would lower costs for Americans.
In October of that year he said during a campaign rally in Columbus, Ohio that ‘we are going to work with you to lower your premiums by $2,500. We will not wait 20 years from now to do it, or 10 years from now to do it. We will do it by the end of my first term as president.’