These Obamacare Facts Have Our Readers Rattled – Where Do You Stand?

Email
    Text size

For many of our readers, learning the real "Obamacare facts" that the president doesn't want us to know has been stressful enough to warrant a doctor visit - one that costs you more than it used to (almost like an Obamacare Catch-22...)

The scary thing is, we still have no idea what the full impact of the new healthcare law will be.

Indeed, back in March 2010, House Speaker Nancy Pelosi famously said we had to pass the bill to find out what's in it.

Three years later, even those in charge of implementing Obamacare don't know exactly what's in the law, and how it will, or won't, work.

What we do know so far: Just months until the bill takes fully kicks-in, scores of Americans believe the controversial healthcare reform is a travesty and destined to fall.

"It is beyond me how anyone could think that 'handing over' our national health care system to the federal government could be a good thing," wrote Money Morning reader Wiginton.

Our readers have started voicing concerns over just how much this "affordable" healthcare will chip away at their savings.

"I'm one of those who simply cannot afford to pay anything much less the penalty... this is absurd...So, like me, numerous are just going to forget about it...," Money Morning reader Raymond shared.

According to a report released Tuesday from PwC's Health Research Institute, which analyzed costs for the 150 Americans currently covered by employers' healthcare plans, total costs for healthcare services, running the gamut from doctor visits to prescription drugs to surgeries, are projected to rise 6.5% next year, faster than inflation, when Obamacare fully takes effect.

Hidden extra costs are not the only pricey expense. Premiums will also rise. And, under a basic plan, workers are looking at an annual deductible of roughly $3,000 before insurance starts paying.

"This highway robbery Obamacare/Obamatax is not about your health. This administration planned all along to make sure we pay more and get less," Money Morning reader Vancouver1941 wrote.

Moreover, the Congressional Budget Office reports the healthcare plan will increase the country's swollen deficit by $239 billion over the next decade, and will keep rising over the long term.

No Wonder President Obama's Rating Is Slipping

A new CNN/ORC International survey released Monday shows President Obama's approval rating slipped 8% over the last month to 45%, the lowest rating in more than a year and a half.

For the first time in his presidency, half of the public says they don't believe President Obama is truthful and trustworthy, the poll reveals. The president's 45% approval rating is down from 53% in mid-May. Some 54% of respondents, up 9% from last month, say they disapprove of how the president is doing his job.

The numbers mark the first time in CNN polling since November 2011 that a majority of Americans have an unfavorable view of President Obama.

A laundry list of controversies has contributed to President Obama's approval decline, but it could very well be the president's signature healthcare bill - his legacy-that's mostly to blame.

Money Morning reader Thomas Listing summed up the popular sentiment, "After reviewing Obamacare it is my opinion it should be overturned now before it ruins our medical system and bankrupts our country."

Now it's your turn - tell us the Obamacare facts that bug you the most - which ones do you think are the most damaging to our country, our money, and our health? How are you preparing for the new Obamacare rules? What effects has it already had on your household?

Share your Obamacare stories below.

For more on the truth about our new "affordable" healthcare, read 15 Obamacare Facts the President Doesn't Want You to Know

Related Articles: