(NaturalNews) News about Obamacare’s failings have peppered the news media recently. In the wake of these recent media reports, here are five devastating Obamacare facts every American should know.
(Article by Katherine Rodriguez, republished from Breitbart.com)
1. 17 of the nation’s 23 Obamacare co-ops have already collapsed.
Only six of the 23 co-ops launched nationwide remain, according to The Baltimore Sun.
The other 17 are closed or are in the process of winding down because they cannot “attract enough members, draw enough premium revenue and withstand the weight of new and costly regulatory hurdles created under the health reform law,” The Sun reported. 
2. Obamacare Premiums Continue to Skyrocket Over 50 Percent
In Minnesota, Breitbart News previously reported that the state is allowing Obamacare premiums to increase by at least 50 percent all the way up to 67 percent in order to keep insurers from leaving the exchanges due to financial losses. 
3. 8.1 Million Americans Have Already Been Slapped with $1.7 Billion in Obamacare Penalties
For tax returns for the year 2015, 8.1 million Americans received fines from Obamacare’s individual mandate that averaged $210 per tax return, totaling $1.7 billion, according to Investor’s Business Daily. 
4. Obamacare’s Soaring Deductibles Have Rendered People’s Health Plans Useless
Over the eight years of Obama’s presidency, high deductibles went from being the minority to becoming standard.
According to the Kaiser Family Foundation, 18 percent of covered workers in 2008 had a deductible of at least $1,000, up from only 10 percent in 2006. For workers with employer-sponsored plans at small firms, 35 percent had deductibles of $1,000 or more in 2008, up from 16 percent in 2006.
In 2016, 51 percent of all covered workers, and 65 percent of workers in small firms, face deductibles of at least $1,000, TIME reported. “Workers at smaller firms must pay an average of $2,069 out of pocket before insurance payments kick in, versus $1,238 for workers at firms with 200 or more employees,” the article reported. 
5. Even Bill Clinton and the Liberal NYT Agree Obamacare is Busted
Former president Bill Clinton called Obamacare “the craziest thing in the world” at a rally Tuesday.
“So you’ve got this crazy system where all of a sudden 25 million more people have healthcare and then the people who 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,” Clinton said. [full article]