Three years after its passing, the Patient Protection and Affordable Care Act — commonly referred to as Obamacare — is just as bad of a law as Republicans always thought it would be. When the bill passed, President Obama laid out three criteria that it would fill. First, if you like your insurance, you can keep it. Second, premiums will decrease by about $2,500 per family. Lastly, it won’t add a penny to the deficit.
Obamacare fails to keep all three promises. According to a study by the University of Chicago, over half of the individual insurance plans on the market right now don’t meet the standards for basic coverage that Obamacare sets.
This means that if you’re a young, single individual, you can’t buy an insurance plan that just covers catastrophic care. You need a plan with all the bells and whistles that Obamacare mandates; think of it as a car insurance policy that covers gasoline costs and routine maintenance. Single catastrophic care insurance buyers won’t get to keep their insurance, even if they like it. Continue reading