One attractive selling point for ObamaCare is a provision, adopted early on, that young people can stay on their parents’ plan up until age 26. It’s a nice perc.
Our family’s plan already allowed that well before the Affordable Care Act — years before most people ever heard of Barack Obama. I guess we had a good
plan. And that’s the point. Even now, to have your 25-year-old covered, you have to have the right kind of family health insurance. It’s something the
employee chooses and pays more for. Some parents might not want it, or their employers might offer a different form of help for health needs. This provision of
ObamaCare is a mandate to insurance companies: If they offer a family plan it has to cover kids until 26. It forces insurance providers to offer everyone
something everyone might not want. It costs the insurance company money, and ends up in the premium.
This is true throughout the Affordable Care Act. The law places many mandates on insurance companies. Consequently, in most states, even rock bottom
policies will be more expensive. Young people will be paying disproportionately for this. Under ObamaCare, you can’t charge somebody more for insurance
because they are old, or chronically ill and more likely to use insurance. So, in order for insurance companies to cover this new, enormous cost, they simply
raised rates. Millennials, who are less likely to use medical services, must now pay to cover the treatments of older people.
A web site for millenials called OptOut.org states that, overall, millenials’ insurance rates will increase by an average of 169% — triple what they were paying
before. Unless they qualify for a government subsidy of course.
OK, so young people get to pay more for car insurance because there’s a better chance they’ll use it. And they get to pay more for health insurance because
— because ObamaCare doesn’t let the people who will cost the system more – pay more. Such a deal.
When you really look at it, ObamaCare is less about medicine and more about wealth redistribution. It’s also a huge new entitlement program that will add
tons of federal employees and probably won’t work very well over the long run.
John Hayward wrote at the popular blog Redstate. “Millenials are going to pay through the nose to keep the ObamaCare fraud grinding along for a few years,
then find themselves staring at a decrepit single-payer socialist wasteland when they get old enough to need serious medical care.”
Here’s another way in which millenials are shouldering more than their share of ObamaCare: Young people just entering the workforce are more likely to be
hourly workers. That includes recent college graduates, often with tremendous debt, walking into a bleak job market. Businesses are cutting back on hours to
avoid the mandates of the Affordable Care Act, again disproportionately hurting young adults.
Young ones, ObamaCare is not a good deal for you.