Even Obamacare supporters know this: subsidies alone will cost taxpayers over $11 billion

Obamacare Costs

The weak attempt at trying to tout Obamacare as the reason why consumers are not paying as much in out-of-pocket care, in spite of the premium increases, has had a good run but now, it’s time to focus on the facts: government assistance offered to nine in 10 Americans who signed for health care coverage plans through the Affordable Care Act exchange will cost roughly $11 billion to the federal government this year.

Once you also add assistance offered through state-run exchanges in the mix, costs could top $16.5 billion, but since precise data regarding consumers buying plans in states that run their own exchanges is not available, the numbers are just a rough estimate.

While the subsidies may sound generous, the cost to taxpayers will affect everybody, including low- and middle-income Americans.

The media, and fervent supporters of this administration’s signature health care law, may have picked up the deceptive talking point and run with it, but the reality is that even with subsidies, the cost of insurance plans for individuals available after Obamacare kicked in was approximately 38 percent more expensive than plans available in 2013.

Any consumer who purchased a health care coverage plan from October 2013 to March 31, 2014, whether subsidies were available or not, purchased a plan that cost 38 percent more than the same plan one year prior. Family plans, however, were 57 percent more expensive. According to a study carried out by the nation’s largest private online health insurance exchange eHealthInsurance.com, deductibles are also more expensive.

Consumers who purchased individual plans will have to cover for an annual deductible averaging $4,164, which consists of a 25 percent increase over the annual deductible selected by individual consumers who purchased their plans in early 2013.

Currently, the average individual plan costs $271 or about $667 if you purchase a family plan. Consumers who are obtaining help when they are eligible for subsidies might be feeling the budgetary difference momentarily, but the real costs of Obamacare will add up, especially when the cost of incorrect subsidy payments begin to take its toll.

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