My Thursday column represents my latest offering in the ongoing debate over the “rate shock” expected next year as President Obama’s health care law goes into effect. But it’s important to keep in mind that comparisons between current insurance rates and rates anticipated under Obamacare understates the degree to which government policy drives up the cost of insurance.

To recap, several provisions of Obamacare work together to raise the base price of insurance. Most significantly, the law forces insurers to cover those with pre-existing conditions, dictates that policies cover a certain array of benefits, and institutes a tax on health insurance. If the law works as intended, these provisions will make it easier and cheaper for poorer and sicker Americans to obtain insurance than possible in the current system. But the hitch is that insurance rates for other Americans — especially the young and healthy — will have to go up, in some cases, dramatically.