This New Report Confirms That ObamaCare Quadrupled The Rate of Increase In Insurance Premiums

April 8, 2014

We already know that ObamaCare has been raising premiums for millions of American families as its costly mandates and regulations go into effect.

This new analysis, however, confirms that not only was the 400% surge in the rate of premium increases that hit Americans’ wallets the result of ObamaCare, but it was also the largest in three years.

According to a new report by Morgan Stanley, the average premium increase for consumers renewing  an insurance plan is 12% in the small group market and 11% in the individual market.

That’s nearly 400% more than the rate the same analysis found just a few months before ObamaCare’s regulatory surge hit the markets.

It has become increasingly clear that ObamaCare’s regulations and mandates are causing shockingly high and unaffordable increases in the cost of health insurance for American families. House Democrats, however, continue to act like nothing is wrong.

From the Daily Caller:

Americans have recently been hit with some of the largest premium increases in years, according to a Morgan Stanley survey of insurance brokers.

The investment bank’s April survey of 148 brokers found that this quarter, the average premium increase for customers renewing an insurance plan is 12 percent in the small group market and 11 percent in the individual market, according to Forbes’ Scott Gottlieb.

The hikes — the largest in the past three years, according to Morgan Stanley’s quarterly reports — are “largely due to changes under the [Affordable Care Act],” analysts concluded. Rates have been growing increasingly fast throughout all of 2013, after a period of drops in 2012.

While insurers were hiking premiums since 2012 by smaller amounts, the lead-up to the Obamacare’s launch has seen the average rate at which premiums are growing fourfold.