President Barack Obama told a blatant lie during his Farewell Address in Chicago Tuesday night.
When speaking about achievements during his presidency, Obama said health care costs were “rising at the slowest rate in 50 years.”
While this sounds nice, it does not hold up when tested against the facts.
The cost of medicine, doctor appointments and health insurance rose the most in August of 2016 than any other time since 1984. The average family health care plan is projected to grow this year at a faster rate than wages, the Kaiser Family Foundation reports.
Obama’s statement is all the more interesting, given that his administration announced last October that insurance premiums would rise by double-digit percentages in 2017. Premiums will increase at an average of 25 percent across the 39 states serviced by the online marketplace healthcare.gov. Even worse, around 20 percent of consumers, or one in five, will only have one insurer to choose from in the marketplace. (RELATED: White House: Obamacare Premiums Will Rise By Double-Digits Next Year)
Medical care prices increased by 4 percent from November 2015 to November 2016, and health insurance and prescription drug prices increased by 6 percent over the same period, according to the Bureau of Labor Statistics.