#ObamaCare Update: premium increases, paperwork troubles, competition lowers prices, Congress exempt from own rules

From a recent NCPA Washington Update:

As the implementation of Obamacare moves forward, more people are buying insurance and many of the early problems that plagued the website seem solved. But public approval ratings remain dismal. Maybe it is the complex labyrinth of paperwork. Or the rising cost of premiums. Many businesses are still coping with the effects of the new health care law, while many individuals are still trying to send the right documents to the government.

It turns out that health insurance premiums tend to be more affordable in states with more competition among insurance companies. That is a predictable outcome based on what we learned in Econ 101. Another predictable conclusion: Congress will always try to play by their own rules. You may remember that the Obama Administration exempted Congress from a provision in the law that requires members of Congress and their staff to purchase health insurance in the Obamacare exchange without a taxpayer subsidy. That’s why Rep. Phil Gingrey (R-GA), Sen. David Vitter (R-LA) and other Republicans opposed the exemption. Now there are a group of Democrats who are introducing legislation that would require Congress to play by the same rules as everyone else. Just in time for the election.

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Filed under insurance, tax code, HSAs, Policy - National

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