Eleven years of ObamaCare have done little to combat the ever-increasing cost of health care insurance for the American middle class. D.C.’s so-called solution is the “American Rescue Plan” that transfers even more money out of taxpayers’ wallets and to insurance companies.
The difficult-to-fathom $1.9 trillion law allocates tens of billions to make ObamaCare insurance subsidies even more substantial. At face value that may sound like a good way to help consumers, but it just proves once again that Congress views subsidies as a hammer for which high health care costs look like a nail. Unfortunately, it will be the taxpayers paying for this, while insurance companies and hospitals keep charging higher and higher prices.
Washington has just written a blank check to the biggest players in health care for at least two years and these subsidies just cover up problems that will only get worse. The twisted logic of the bill even grants more assistance to higher-income enrollees, compared to those with lower incomes.