On Tuesday, a study revealed that under the Affordable Care Act, rather than decreasing the cost of healthcare, some groups have experienced raises by as much as 78% in insurance premiums.
The study, conducted by HealthPocket, a nonpartisan health insurance research company, compared the average healthcare premiums before Obamacare was enacted in 2013, to the current average premiums in 2014.
According to the Washington Times, the study 23-year-olds experiences the greatest increase in insurance premiums, with men “seeing an average 78.2 percent price increase before factoring in government subsidies, and women having their premiums rise 44.9 percent.”
The study also found that 30-year-olds experienced a dramatic increase, with men paying 73.4 percent more, and women paying 35.1 percent more.
The head of research and data at HealthPocket, Kev Coleman, said that the study was “very eye-opening in terms of the transformation occurring within the individual health insurance market.”
“I was surprised in general to see the differences in terms of the average premiums in the pre-reform and post-reform markets,” said Coleman. “It was a higher amount than I had anticipated.”
The Daily Caller reported that the major increase in insurance premiums for men can be explained by the fact that “Obamacare bans insurers from charging women more,” and by the fact that insurers are required to cover a plethora of services, even if the customers don’t want them, such as “maternity and newborn coverage,” for both men and women.
According to the Washington Times, the major increases among younger insurance buyers “could be a problem for Obamacare’s long-term solvency given that young people are needed to offset the higher costs associated with older policyholders.”