TAXPAYER SUCKER PUNCH: Obamacare Subsidies to Cost Taxpayers $10 Billion More This Year
Obama Administration Still Silent on Committee Requests for Information
WASHINGTON, DC – Just before the holidays, we shared a new report sounding the alarm for taxpayers. According to the Associated Press, taxpayers will be footing a nearly $10 billion bill this year “to cover double-digit premium hikes for subsidized health insurance under President Barack Obama’s law…”
The report by the Center for Health and Economy says that premium subsidies under Obamacare will rise from $32.8 billion to $42.6 billion. The average monthly subsidy will climb from $291 to $367.
While these subsidies are designed to lessen the blow of premium increases, in reality, it is hardworking taxpayers who are stuck picking up the tab for the rising costs of health care.
“Currently more than 8 in 10 consumers buying private health insurance through HealthCare.gov and state markets receive tax credits from the government to help pay their premiums,” explains the Associated Press. “Those subsidies are designed to rise along with premiums, shielding consumers from sudden increases. But the bill ultimately gets passed on to taxpayers.”
It’s a one-two punch that taxpayers can’t afford.
Energy and Commerce Committee leaders pressed the administration on rising subsidies at a fall hearing and after, in a letter. Citing skyrocketing premiums across the country, committee leaders requested more information about the increasingly rising taxpayer subsidies to cover the rising premiums. The committee is still awaiting a response.
The American people deserve better, and House Republicans have a Better Way.