This is the Cato Daily Podcast for Friday, October 28, 2016.

I'm Caleb Brown.

New premium hikes under the Affordable Care Act are shocking many Americans. In many cases the

premium increases now dwarf the promised premium decreases. Michael Cannon, director of

health policy studies at the Cato Institute, says that's not even the worst part.

Bill Clinton has apparently been vindicated by Obamacare premium hikes that are in many cases providing coverage higher deductibles and worse overall coverage.

And it's not just that the premium hikes are validating what Bill Clinton said

when he said that people are seeing their premiums double and their coverage cut in half. Yes premiums are

spiking rising by 22 25% nationwide which is something like six times the rate of

wage growth.

They are, you have states with average premiums,

statewide averages as high as 76% in Oklahoma.

And lots of people are seeing increases of 100% or more.

The President promised back in 2010 that he would reduce family premiums by $2,500.

Yet in just one year we're seeing premium increases that double or triple those proposed savings.

So premiums are spiking, there are premium subsidies available, they're available to fewer

than half of the people who are in this market market and that's not even the worst part. The worst part

is the other half of what Bill Clinton said. He said the people are seeing their

coverage cut in half. The health plans that are available through Obamacare's exchanges are increasingly

provide increasingly lousy coverage to sick people. And the reason for that is

because Obamacare didn't end discrimination against people with preexisting conditions.

It practically mandates discrimination against people with preexisting conditions in the following way.

...