Wednesday, July 31, 2013

Chart Of The Day

You can disagree with Obamacare. You can think it is the wrong policy for the country. You can even believe, with some credence, that it will raise rates.

But stop pretending that rates were not already increasing dramatically prior to the passage of the Affordable Care Act.

As you can see from the chart above (provided by Kaiser), annual health insurance increases were far out pacing inflation. From 2000 to 2005, the average annual rate increase topped 8%.

We will soon hear "repeal" for the fortieth time in the U.S. House of Representatives. However, we will not hear what comes after and everyone should be able to agree returning to the status quo is not tenable.


Joe said...

I think it's HR 2500 but I might have the number wrong. That's what the opposition is suggesting as next...

griftdrift said...

I'm guessing some form of tort reform will save us all?

MTHEORY said...

According to that chart, health insurance got cheaper while GW Bush was in office. But does he get any thanks?

griftdrift said...

No. The rate of increase decreased. As "conservatives" are very fond of pointing out any time there's a discussion about the deficit, this is not the same as a decrease.

Also, even after the enactment of ACA, the rate of increase has not risen to the levels of the early aughts.

Also, simliar to frequent "conservative" pronouncements about such and such as employment hasn't returned to the same level as 2008.

Good for the goose. Good for the gander.

Also, neither of these little sematical points belies the fact that prior to HCA, rate increases were significantly outpacing inflation. Combine that with a decade of wage stagnantion and you have a recipe for disaster. We simply can't return to the way things were.