A congressional report, issued by Republicans in the House and Senate, says that Obamacare will increase healthcare costs by 200 percent.
Though the report is partisan, it is worth reading because of the depth of the analysis as well as the range of its historical research. For example:
The report notes that a number of states have already imposed requirements on health coverage and the result has been fewer choices and higher premiums. In New York, for example, a 30-year-old male paid an average of $1,200 a year in annual premiums in 1993, but one month after the state passed Obamacare-like reforms, premiums soared to $3,240. At the time Washington state passed similar reforms, 19 insurance carriers wrote policies for state residents. Within six years, only two carriers remained in the state.
I was living in New York when the state legislature passed this early version of Obamacare and can attest to truth of the above facts. Costs doubled and insurance companies fled the state, reducing competition. I even wrote about an article about it. The evidence from these state efforts illustrates the likelihood that Obamacare will do the same, nationwide.