It's been more than three years since President Obama signed the Patient Protection and Affordable Care Act into law, and it's becoming obvious that it will neither protect patients, nor make their health care more affordable, but instead will cause millions of Americans to lose access to their current health care, lead to higher premium rates and hurt job creation.
That's why I recently voted to repeal the president's law in its entirety. Until we stop this train wreck of a law, our families and small businesses will continue to suffer under it.
Young adults and middle class families will end up paying more for their health care. When the legislation was signed into law, Obama promised families they would be paying $2,500 less a year in health-care costs. It turns out families have been paying an average of $3,000 more a year since 2008. Recent college grads with entry-level jobs trying to pay off their college loans could be hit even harder, as some could see their premiums increase between 145 and 189 percent. High costs for health care are the last thing young Americans and middle-class families need to worry about while they try to make ends meet in a sluggish economy.
The president's health-care law also makes it harder for small businesses and manufacturers to hire. A report from the Federal Reserve shows business owners cite Obamacare as their main reason for planned layoffs and reluctance to hire more staff. Employers with the equivalent of 50 or more full-time employees, defined as working more than 30 hours per week, will need to offer mandated coverage to all their employees, or pay a $2,000 fine per worker beyond the 30th employee. To avoid this hefty fine, some employers say they will keep their employees under 50 or reduce hours. Sadly, many business owners say they will be forced to drop health insurance altogether, forcing their employees into state exchanges.
Equally appalling, employers will be forced to provide abortion-inducing drugs and sterilization. This puts Christian colleges, hospitals, charities and family-owned businesses in the position of either paying steep fines, or providing coverage that is against their religious or moral convictions.
Rounding out the reasons Obamacare hurts the very people it was intended to protect: It will force seniors out of plans they have and like. To pay for the law, the president plans to cut $716 billion from the Medicare program, despite the program being in desperate need of strengthening to continue providing benefits. Seniors will feel this impact through decreased benefits or, in some cases, their entire plans.
In the House, we're continuing to work on the American people's priorities of building a healthy economy and stopping policies that hurt Americans. Our goal remains to help hardworking taxpayers and expand opportunities for all Americans, and that's where we will continue to be focused. We remain committed to putting your priorities first, growing the economy and protecting jobs but that is much more difficult with the burdensome repercussions of Obamacare standing in the way.