Obamacare caused millions of Americans to lose their insurance plans while premiums skyrocketed, according to a new study from the Committee to Unleash Prosperity.
Former President Barack Obama’s Affordable Care Act (ACA) sought to make health insurance more accessible, all while reducing premiums and the government’s budget shortfall, and allowing Americans to keep their preferred medical providers. However, individual market premiums surged, hundreds of billions of dollars were added to cumulative U.S. deficits and seven million consumers had their plans canceled following the ACA’s passage, the Committee to Unleash Prosperity study found.
“Obamacare has failed in every particular – it failed to make health care more affordable; it failed to improve the health of Americans; it piled on an enormous amount of additional debt on taxpayers; it has principally enriched massive insurance company conglomerates, and it now serves as a major impediment to real heath care reforms that would empower patients and doctors,” Phil Kerpen, American Commitment and Unleash Prosperity president and one of the study’s co-authors, told the DCNF. “As we show in this paper, every single promise that was made to pass this law turned out to be false.”
Obama claimed the ACA would slow the growth in U.S. healthcare spending and “bring down premiums by $2,500 for the typical family,” but individual market premiums more than doubled from 2013 to 2017 and deductibles soared, according to the study.
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