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March 16, 2010
Obama: You will see 'premiums fall by as much as 3,000 percent' under Obamacare
When House Speaker Pelosi said that ObamaCare will allow Americans to realize their dream of being an artist, photographer, or writer without having to work a day job to have health insurance, some of us wondered whether ObamaCare also will cover other expenses, such as for housing and food, that force people to work a job they may not like while they pursue their dreams. Now we know the answer: yes it will.
Monday in Strongsville, Ohio, President Obama said that ObamaCare will reduce health insurance premiums by "3,000 percent." Considering that a 50 percent decrease in premiums would mean that we'd be paying half as much as we now pay for health insurance and that a 100 percent decrease in premiums would mean that we'd be paying nothing for health insurance, President Obama is telling us that insurance companies will actually start paying us money to keep our health insurance.
If your current health insurance policy costs $5,000 a year, insurance companies will pay you $145,000 a year (2,900 percent multiplied by $5,000). If you're fortunate enough to be paying $25,000 a year for health insurance, insurance companies will pay you $725,000 a year. There's no word whether you can purchase a more expensive health insurance policy to increase the amount of money that insurers pay you each year.
Just think, America: These are the people telling us that they know best how to run 1/6 of our economy.