Obamacare Exchanges: Young People Paying for the Elderly
This week, the prices for the exchanges under Obamacare were officially set into place. The news is not good for young people. From the Wall Street Journal:
U.S. officials for the first time disclosed insurance prices that will be offered through new federally run health-care exchanges starting Oct. 1, showing that young, healthy buyers likely will pay more than they do currently while older, sicker consumers should get a break.
The plans, offered under the health-care overhaul to people who don’t get insurance through an employer or government program, in many cases provide broader coverage than current policies.
Costs will vary widely from state to state and for different types of consumers. Government subsidies will cut costs for some lower-income consumers.
The prices are for the 36 states where the federal government is running exchanges. Plans will cover more, but also cost far more – and for a generation of Americans with less income due to the stagnant economy, this will be devastating. Additionally, young people are the healthiest part of any nation’s demographic, meaning the additional cost won’t provide much benefit to them.
Of course, that’s the point of Obamacare – it’s designed to socialize risk, even if it harms most of the people under it. That is, of course, Exempting Members of Congress, Big Business interests, and unions.
WSJ also reports other parts of Obamacare are struggling:
Washington is scrambling to fix a host of technical hurdles on the federally run exchanges, including ensuring the government’s software can reliably determine the exact amount of subsidies for eligible people.
In another sign of the technical challenges, federal officials confirmed this week that if a person signing up online in the federal exchanges is found to be eligible for Medicaid, the system won’t immediately be able to transfer the application to the person’s state of residence. States traditionally handle enrollment for Medicaid, a federal-state health-insurance program for the poor.
The Medicaid computer handoff won’t happen until Nov. 1, but people who are newly eligible for Medicaid should still be able to get coverage starting Jan. 1, officials said.
More delays, higher costs, incompetent implementation of the train wreck law…Congress, you really need to step up and defund this thing before it implodes, taking the country with it.
The Journal was kind enough to provide the rates for young people in an easy-to-read table here. Be sure to share it with your friends, family, and across social media. Make sure the American people know what we’re in for if Congress doesn’t defund the law.