Friday, November 21, 2014

Loose-lipped ObamaCare adviser's predictions more bad than bold, analysis shows


Gruber Prediction: Premiums will go down

“What we know for sure the bill will do is that it will lower the cost of buying non-group health insurance,” Gruber told the Washington Post in November 2009.

Premiums rose due to ObamaCare by an average of 49 percent, according to a county-by-county analysis done by the Manhattan Institute, proving critics and insurance companies, who had said Gruber’s models were deeply flawed, correct.

“[ObamaCare] will result in individual market premiums increasing, not decreasing, as stated in the Gruber paper,” insurance company Wellpoint wrote in a 2009 paper.

Gruber had simply failed to consider key factors in the plan that Wellpoint correctly predicted would add "between 20 percent and 80 percent to the cost of premiums under reform.”

Specifically, Gruber's analysis assumed everyone would qualify for ObamaCare subsidies, the company determined. Gruber’s prediction before the Senate in 2009, that ObamaCare would guarantee “sizeable premium savings for [the] young" and that a family with income of $38,000 "would save, on average, $8,550," also failed to pan out, according to the Manhattan Institute analysis.

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