In 2007, candidate Barack Obama declared, “I will sign a universal health care bill into law by the end of my first term as president that will cover every American and cut the cost of a typical family’s premium by up to $2,500 a year.” As president, he signed national health care legislation that is formally known as the Patient Protection and Affordable Care Act, popularly known as Obamacare. But according to a new report from Congressional Republicans, the law will actually cause premiums to more than double for some Americans.
The report, which is based on a compilation of independent studies on the effect of the law’s new regulations, finds that Obamacare could increase premiums by 40 percent on average and by as much as 202 percent for young adults living in Chicago.
