October 5, 2016
By Avik Roy
The writer Michael Kinsley once said that “a gaffe is when a politician tells the truth—some obvious truth he isn’t supposed to say.” So it was when Bill Clinton pointed out earlier this week that Obamacare’s drastic premium hikes were “crazy.” But the aspiring First Gentleman neglected to mention that Hillary Clinton’s 2008 reform plan was just as “crazy” as Obamacare.
“You’ve got this crazy system,” said Bill, “where all of a sudden, 25 million more people have health care and then the people that are out there busting it—sometimes 60 hours a week—wind up with their premiums doubled and their coverage cut in half. It’s the craziest thing in the world.”
What Bill is referring to is the phenomenon of rate shock, especially for those who aren’t eligible for Obamacare’s subsidies. As we’ve extensively described at The Apothecary, rate shock is also a serious problem for people who are eligible for subsidies, but whose subsidies are too small to make up for rate shock: those with incomes above 250 percent of the Federal Poverty Line (incomes above $29,700 for a childless adult).
Read the full article at Forbes.com: What Bill Clinton Didn't Tell You: In 2008, Hillarycare Was Just As 'Crazy' As Obamacare