Rate Shock: In California, Obamacare To Increase Individual Health Insurance Premiums By 64-146%

◼ Last week, the state of California claimed that its version of Obamacare’s health insurance exchange would actually reduce premiums. - Avik Roy/Forbes

“These rates are way below the worst-case gloom-and-doom scenarios we have heard,” boasted Peter Lee, executive director of the California exchange. But the data that Lee released tells a different story: Obamacare, in fact, will increase individual-market premiums in California by as much as 146 percent.

One of the most serious flaws with Obamacare is that its blizzard of regulations and mandates drives up the cost of insurance for people who buy it on their own.

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