by Blake Farenthold on June 3, 2013 at 1:58 PM
I hosted Town Hall Meetings this week in Rockport, Aransas Pass, and Luling. In addition to concerns about Attorney General Eric Holder’s snooping on reporters, the IRS targeting conservative groups, the ongoing investigation of the attacks on our Benghazi consulate and Immigration reform, one of the top concerns expressed at the meetings was how families, individuals, and businesses are going to survive ObamaCare.
I firmly support the FULL REPEAL of ObamaCare, and have voted almost 40 times to repeal or defund all or part of it. Unfortunately, there is little chance the Senate will pass a repeal and no chance President Obama will sign legislation overturning it, so now we must look for ways to mitigate the damage until the President leaves the White House. The following are some frequently asked questions that I thought might be helpful for you to look over to determine how the President’s healthcare law is going to affect you and your family.
1. Does Obamacare increase taxes?
a. Yes. Obamacare includes 21 new or increased taxes that total $1.1 trillion. A dozen of these target low- and middle-income taxpayers, which goes against the President’s promise to protect them from tax hikes.
2. Will costs go up under Obamacare?
a. Yes. In some states, premiums are expected to rise up to 106%. Even the President’s chief health officer, Secretary Sebelius, admitted that premiums will increase under Obamacare.
b. Obamacare’s premium increases will hurt young people the most. Some will see their premiums increase by over 200%, and 80% of young adults earning more than the poverty line will see an increase in their healthcare costs.
c. Obamacare also raises taxes on plans, drugs, and medical devices by $165 billion, the cost of which will ultimately be passed on to consumers.
3. Will I be able to keep my current plan?
a. It depends. Many employees will lose their employer coverage. CBO estimates that 7 million will lose their employer coverage because of Obamacare, and up to 80% of small business plans will lose their grandfathered status.
4. Will I still be able to get the healthcare I need?
a. It depends. Medicare’s own actuaries estimate that 15% of hospitals will have to stop providing services to Medicare beneficiaries because of the costs associated with Obamacare. One report has also estimated that enrollment in employer sponsored drug plans for retirees will drop by nearly 90% by 2016 because of Obamacare’s tax increases.
5. What do I need to know to prepare?
a. The Obama administration has put together a website of information on the new healthcare law and how to prepare for it. If you’re a small business, you can find a checklist of things to do in preparation here. If you’re an individual or head of a family, you can find a checklist for you here.