During his bid for reelection in 2012, then-President Obama tried to defend ObamaCare in a campaign speech, telling his supporters, “[Y]our premiums will go down.” It has been about five years since he said that and they have gone significantly differently than the President intended. Evidence has actually found that the reverse happened and that premium prices went up.

Over the past year or so, I’ve expended considerable ink on the underreported problem of ObamaCare deductibles. What few people understand about insurance is that you don’t get a dime from the insurer until you pay the deductible amount out of pocket. Until then, you might as well not be covered. So, when people see low premiums and fancy coverage options, they could be getting sucked into what is actually a bad deal - a deductible they will never be able to reach.

Health insurance companies are signaling huge health insurance premium increases ahead of the 2016 open enrollment period. This is due to the droves of older and sicker consumers who signed up for coverage on the ObamaCare Exchanges, according to a report from The New York Times. Requests submitted by insurance are approved by state regulators, such as state insurance commissioners, but the proposed rates reflect a higher utilization of healthcare than expected.