We are all seeing the news reports about the supposed million policy holders who will lose their current health care plans under the affordable Health Care Plan because these policies do not meet the minimum requirements of what is needed to be included under the minimum coverage that is outlined in this bill.  Now a Duke University health expert is saying that sixty-eight percent of privately-insured Americans may not be able to keep their current health coverage once Obamacare is fully implemented, despite the president’s repeated promises that anyone who wanted to keep their plan would be able to do so.

An analysis by healthcare economist Christopher Conover at the Center for Health Policy & Inequalities Research at Duke University found that an estimated 129 million people could lose their previous health coverage due to a combination of factors including the cancellations of existing plans as well as changes and “improvements” to existing coverage that will be required under the new healthcare plan.

As early as 2009, President Barack Obama made the promise, “If you like your healthcare plan, you’ll be able to keep your healthcare plan.  Period.”  The White House has recently admitted, however, that a small number of people would not be able to keep their plans.

Conover gave a further breakdown of the figures, saying that between 18 and 50 million people will have their existing plans entirely taken away, including 9.2 million to 15.4 million in the non-group, or individual, market and 9 million to 35 million in the employer-based market.  The rest, he said, will retain their old plans but have to pay higher rates for Obamacare-mandated “bells and whistles.”

“It’s true that some Americans will end up with cheaper coverage, but not the vast majority. Study after study shows premiums on average will be higher in the non-group, small group and even large group markets,” he added.

I believe this to be true.  Unfortunately, we will never know the true ramifications or the economic cost of this change.  There is nothing in place to prevent health insurance companies to take full advantage of this circumstance and greatly inflate premiums of these new policies needed to replace those policies that will be cancelled.  In the end, the now uninsured, will have health insurance and take full advantage of it and drive up costs at an ever increasing rate.  Meanwhile, the rest of society will pay for this with higher premiums and less coverage and more and more out-of-pocket expenses.

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