The Affordable Care Act is proving to be more of a financial burden to Americans rather than the financial alleviant it was intended to be.
Kris Morgan, owner of Affiliated Surveyors in Texas, owns a land surveying company that offers group health insurance to all employees. Morgan’s insurance representative advised him to move his renewal date from September to December because of the increasing insurance rates. Due to Obamacare, Morgan’s compliant plan will almost double from $1,100 to about $1,990 a month.”
Morgan explained to KETK that the new rates are “not based on actuaries, incidents, or people that have gotten sick.” The rate is higher because of illnesses or sicknesses that Obamacare foresees happening. “Its very frustrating and it keeps you in a state of flux” Morgan said. Because of the high rates, Morgan is being forced to make adjustments to his business.
Also suffering from the skyrocketing rates of Obamacare is Robert Slone. He has been in the hospital for five weeks due to an infection from a knee replacement surgery. Slone’s premium has increased by $50, a total increase of $600 a year. Slone expressed his disappointment with Obamacare “I don’t like the idea of it costing me this much more a year, but what can I do?”