The Cost Of Obamacare

U.S. president Barack Obama‘s socialized medicine plan has cost Americans $1.2 trillion in higher health insurance costs over the last six years. That equates to $6,388 per individual and $18,610 per family over that time period, according to research compiled by America Next – a think tank led by Louisiana Gov. Bobby Jindal.

“The administration has put forth all sorts of excuses about why its law hasn’t met the expectations the president himself set,” Jindal recently wrote in reference to the group’s report. ”One of them is that the law’s major provisions only took effect in January, so Obamacare needs more time to achieve savings.”

Of course as we noted in this post, Obama created that problem for himself. As a candidate in 2008 he projected annual savings of $2,500 per family by the end of his first term in office … only to close out his first four years with a $2,400 increase in insurance costs.

In other words that campaign promise was about as accurate as Obama’s oft-repeated “if you like your health care plan, you can keep it” promise.

Anyway, with Obamacare’s fate – or at least the fate of the vast majority of its subsidies – headed back to the U.S. Supreme Court, it’s worth taking a look at the impact the law has had on Americans’ health care costs.

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