3 Reasons Obamacare Premiums Are Set to Skyrocket in 2018
The Affordable Care Act (ACA), which is more affably known as Obamacare, is arguably the hallmark legislation of former President Barack Obama. While it's been controversial since its passage, and remains so today, it's hit its primary target, which is to reduce the aggregate number of uninsured people in the United States.
Before the implementation of Obamacare, data from the Centers for Disease Control and Prevention showed that the uninsured rate was around 16%. Following its implementation, the uninsured dipped to right around 9%. This dramatic cut in the uninsured rate was credited to subsidies that allowed low-income individuals and families the opportunity to afford health insurance, as well as the individual and employer mandates that gave consumers and companies incentive to purchase health insurance, or offer health insurance options to employees.
Image source: Obama White House via Flickr.
Source: Fool.com