No thanks to the new health care bill passed by our Democratic politicians. Medical insurance monthly rates have now been increased for my family and approximately $100 a month for a family friend living on retirement income.
I suspect the unexpected increase in insurance cost is widespread. This is just one of several ways the insurance industry has been able to challenge the new Obama health care bill. What will be the cost of insuring a family with children under 19 years of age now that new independent policies for this age group will no longer be available from major insurance companies?
Another surprise is the new federal real estate sales tax that will go into effect in 2013. According to U.S. Rep. Doc Hastings and real estate sources, under the new health care bill all real estate transactions will be subject to a 3.8 percent sales tax. A $400,000 home will be taxed $15,200. This on top of any other tax costs will be especially devastating for the retiring generation hoping to downsize their homes.
How many of the members of Congress took time to read and understand the impact of these huge bills before casting their votes?