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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
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BLEEDING OUT THE PRIVATE SECTOR IN HEALTH CARE EXCANGES ObamaCare is back door, defacto National Health Care, a.k.a. "single payer". An overly complex law from the start, it is designed to conceal the true intent of Congress: National Health Care. Its just Congress did not have the votes to enact it at the get-go. So, incrementalism is the strategy. Health Insurers already are opting out of various states, such as Cigna and Aetna are doing in Calif., beginning next year. No more individual health policies there. Others will follow in other states. I expect the Federal government to list their… Read more »
Perhaps the most frustrating thing about Obamacare is the secrecy involved. In an attempt to project and clarify future health care premiums, I contacted my retirement system which immediately referred me to the insurance company. Customer service replied that it (Blue Shield) had no idea how premiums might increase nor what restrictions, if any, might be placed on services and care if and when Obamacare becomes the law of the land. If the health insurance industry doesn't know, who does? Can we rely on a roster of befuddled legislators to make intelligent decisions on medical issues?
Personally believe this analysis borders on BS not facts…Locally ..one of our hospitals folded…due to management and changing health care needs…Another hospital…a major University hospital..teaching..hi -tech…BOUGHT the hospital..and the CEO directly referred to Obamacare as being a major player in the reason…healthcare is changing…more Urgent Care /on site facilities are needed …not as many in patient beds..At the new facility there will be Urgent Care and most likely Emergency Care. .COST EFFECTIVE…the "folded" hospital would have remained unsold…vacant …if not for the changing scene and OBAMACARE is part of that…so dissing isn't always the namegame…
What really bothers me is the 17,000 pages it took to write "Obamacare" what could possibly be written that would take 17,000 pages.Unless you are hiding a lot of things you want passed that you can hide within 17,000 pages knowing no one is about to read all those pages.That in it self shows you how sneaky he and his cronies are. How anyone could've voted for him is beyond me.I'll be waiting to see how many will stand up and admit how wrong they were to vote for such a liar.
The govt. is already in the health insurance business… Medicare! remarkably efficient, covers everybody over 65. This IS single-payer health insurance. Scams and inefficiencies in Medicare are small compared to health insurance companies claiming fully 30% of our health care dollars. The $3,000 deductible is not bad… you can cover it with a tax deductible health savings account. A lot of the anti-Obamacare rhetoric seems to be politically motivated.
my insurance has already gone up. my copays are higher and the coverage is less. I thought health savings accounts were no longer available. $3000.00 is a lot of money to most people. the better plan would have been to put all the uninsured on medicare. program was already in place, but no they took 58 billion from medicare and now many drs. are not taking medicare patients at all. this is a debacle of significant magnitude. how high will the jobless rate go when the insurance companies start laying off employees. better to have changed rules for insurance currently… Read more »
I dont really know if Obamacare is the answer however I do believe this country needs to do something about its healthcare system. The fact that the U.S. is the only civilized country on the face of planet without a national healthcare program while we stand alone in spending many times more than the rest of the world combined in defense tells me that we need to get our priorities in order,that being our people.