Senate Health Care Bill Increases Premiums for Self-Employed

The Washington Post is revelling in the news that the Congressional Budget Office (CBO) has released an analysis of the Senate Health Care Bill, claiming that "the measure would leave premiums unchanged or slightly lower for the vast majority of Americans" (emphasis mine). They'd like you to stop reading at that sentence and assume that this bill does the job of reducing health insurance premiums for those who need it most. But, who is not included in the "vast majority"?

The answer may surprise you. In fact, in my opinion, this legislation does the least to reduce insurance costs for those who can use the most help: the self-employed. According to the CBO, "the measure would have its most dramatic impact on the individual market. Becuase they are not part of a workforce or other group that can pool its risk, consumers tend to pay more for policies with fewer benefits." Moreover, the CBO concludes that "premiums [in the individual market] would be 10 to 13 percent higher, on average, than under current law, climbing to $5,800 a year for individuals and $15,200 for family coverage."

So, while the Democrats in Congress would like you to believe that this report is a victory for their bill, it's really a huge failure. This bill raises health insurance rates the most for those who need the help the most. And, because the self-employed are the entrepreneurs of America, what this bill really does is to discourage the entrepreneurial spirit that contributes to the greatness of America.