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Financial Advisor Dennis Tubbergen Asks: Will Health Insurance Costs Double or Worse?

Tubbergen's radio shows are also available as podcasts.

 
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Grand Rapids, MI -- (SBWIRE) -- 05/31/2013 -- Many of us find it difficult to stay abreast of everything that is happening financially in the world today. Dennis Tubbergen, a financial advisor, author, radio show host and CEO of PLP Advisors, LLC can be counted on to give a hand when it comes to understanding the latest events in U.S. and world economics.

Whether people enjoy his weekly newsletter at http://www.moving-markets.com or his blog at http://www.dennistubbergen.com, Tubbergen is dedicated to sharing his viewpoints and opinions. On May 21, 2013 his blog was titled Health Insurance Costs to Double or Worse?

"An article recently published by The Washington Free Beacon reported that a study released by the House Energy and Commerce Committee found that the Patient Protection and Affordable Care Act - a.k.a. Obamacare - will cause health insurance premiums to increase by an average of one-hundred percent," began Tubbergen.

He quotes below from the May 13, 2013 article.

A new report released by the House Energy and Commerce Committee reveals Obamacare will increase health insurance premiums by an average of nearly 100 percent. Some premiums could rise by 400 percent.

The committee cited internal documents from some of the nation's largest health insurance companies.

"The average yearly cost for a new customer in the individual market grows from $1,896 to $3,708 - a $1,812 cost increase," according to the report.

Affordability. It was a central premise - and promise - of the Patient Protection and Affordable Care Act (PPACA) when the law was debated in Congress throughout 2009 and signed into law on March 23, 2010. In his remarks that day, President Barack Obama stated: 'This legislation will also lower costs for families and businesses . . ." Over three years later, the White House continues to state that the PPACA will lower costs.

The . . . report chronicles the massive premium increases awaiting Americans when full implementation of the PPACA occurs in eight months, definitively contradicting the promise that the law will lower costs. As this report demonstrates, consumers purchasing health insurance on the individual market may face premium increases of nearly 100 percent on average, with potential highs eclipsing 400 percent. Meanwhile, small businesses can expect average premium increases in the small group market of up to 50 percent, with potential highs over 100 percent.

"This should not come as a surprise to anyone," concludes Tubbergen. "I don't know of many rational folks who acutally bought into the savings argument. Whenever you hear a politician talk about savings, it should be reflexive to grab your wallet."

To read the blog in its entirety go to http://www.dennistubbergen.com and select his May 21, 2013 entry.

Tubbergen’s syndicated radio show can be heard on metro Michigan stations WTKG 1230 AM and WOOD Newsradio1300 AM and 106.9 FM.

About Dennis Tubbergen
Dennis Tubbergen has been in the financial industry for over 25 years and has his corporate offices in Grand Rapids, Michigan. Tubbergen is CEO of PLP Advisors, LLC and has an online blog that can be read at http://www.dennistubbergen.com. To view Tubbergen’s latest Moving Markets? newsletter, go to http://www.moving-markets.com.

The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.