As early as 2007, President Obama promised that under his proposed health care reform law, insurance premiums would go down by $2,500 per year for the average family. To put it mildly, that hasn’t happened under Obamacare — and the rising rates are likely to increase again soon. According to a county-by-county analysis published last month by the Manhattan Institute, individual market insurance premiums have increased by 49 percent on average in 2014 after the most recent round of Obamacare regulations went into effect.
The increases were much worse in some places than others. The average 27-year-old man in Miami, for example, is now paying 59 percent more this year than in 2013; in Philadelphia, he’s paying 68 percent more; in both Las Vegas and Little Rock, the rates for 27-year-old women more than doubled, and the rates for men of that age more than tripled. In North Carolina, rates for 64-year-old men and women nearly tripled as Obamacare took effect, requiring a more expensive and often unnecessary set of benefits.
