Editorial: Skyrocketing health insurance?

Thanks to Barack Hussein Obama and Congressional Democrats, Oklahomans are going to pay a lot more for health insurance.

A whole lot more.

A small business owner got a notice last week from Blue Cross that beginning on January 1, his monthly premiums that cover him, his wife and his daughter are going up 70 percent.

Seventy percent.

He is scheduled to pay $2,500 a month for health insurance. That’s $30,000 a year for coverage.

Another family has a single policy for a 21-year-old college student. They were notified that her Blue Cross policy, which costs $175 a month, would rise to $475 a month on January 1.

That is a 270 percent increase.

And guess what? Blue Cross Blue Shield of Oklahoma is the only health insurer offering plans on the federal exchange in Oklahoma in 2017. That company now has a monopoly of sorts and that accounts for the skyrocketing increase in rates.

What do you do?

Some small businesses, especially family run operations, may choose to not carry health insurance. They will pay a heavy Obama tax for doing so but it will be cheaper to pay cash for medical services and pay the extra tax than to spend $30,000 (plus the deductible) for health insurance.

Employers will cut benefits by making full-time employees go to part-time schedules. Some will not offer health insurance, forcing employees to buy their own.

Obamacare is a disaster. Perhaps this wave of unprecedented premium increases will be a wake up call for Americans who think Obama and the Democrats know what they are doing. His policies may bankrupt America.