What will you be paying for the privilege of electing a socialist who made you feel good about yourself?
Avik Roy counts the cost in Forbes magazine.
For months now, we’ve been waiting to hear how much Obamacare will drive up the cost of health insurance for people who purchase coverage on their own. Last night, the U.S. Department of Health and Human Services finally began to provide some data on how Americans will fare on Obamacare’s federally-sponsored insurance exchanges. HHS’ press release is full of happy talk about how premiums will be “lower than originally expected.” But the reality is starkly different.
Based on a Manhattan Institute analysis of the HHS numbers, Obamacare will increase underlying insurance rates for younger men by an average of 97 to 99 percent, and for younger women by an average of 55 to 62 percent. Worst off is North Carolina, which will see individual-market rates triple for women, and quadruple for men.
[...][M]any 27-year-olds will face steep increases in the underlying cost of individually-purchased insurance under Obamacare. For the states where we have data—the 36 reported by HHS, plus nine others that we had compiled for our map that HHS didn’t report—rates will go up for men by an average of 97 percent; for women, 55 percent. (In the few cases where HHS reported on states that our map includes, we went with HHS’ numbers.)
Worst off was Nebraska, where the difference between the cheapest plan under the old system and under Obamacare was 279 percent for men, and 227 percent for women: more than triple the old rate. Faring best was Colorado, where rates will decline for both 27-year-old men and women by 36 percent. The only other state to see a rate decline in this analysis was New Hampshire: 8 percent for both men and women.
(Still missing are data from Hawaii, Kentucky, Massachusetts, Maryland, Minnesota, and Nevada. The data from New York and New Jersey should be taken with a grain of salt, as their individual insurance markets are not like those of other states.)
[...]40-year-olds, surprisingly, will face a similar picture. The cheapest exchange plan for the average enrollee, compared to what a 40-year-old would pay today, will cost an average of 99 percent more for men, and 62 percent for women.
You might be asking why men have to pay more than women for Obamacare premiums, and the answer is simple. Even though women use a lot more health care, companies are now forbidden from making women pay more because they use more. Women will be paying less because men will be picking up the cost. That’s called “equality”. The same thing happened with the stimulus, which also favored women, because they are more likely than men to support big government Democrats at election time.
What about the subsidies that are being offered by the government to ease the transition to government-controlled health care?
However, the overall results make clear that most people will not receive enough in subsidies to counteract the degree to which Obamacare drives premiums upward. Remember that nearly two-thirds of the uninsured are under the age of 40. And that young and healthy people are essential to Obamacare; unless these individuals are willing to pay more for health insurance to subsidize everyone else, the exchanges will not serve the goal of providing coverage to the uninsured.
Democrats like to make much of the subsidies that they are offering to offset these skyrocketing premiums, but that money is being borrowed from the children of today. They are the ones who will have to pay the money back. In effect, we are borrowing money from the next generation of workers to pay off the health care of the retirees of today. Obamacare is a massive transfer of wealth from young people to older people. Young people are still very much under the influence of the brainwashing they got from their teachers in government-run public schools. They have been taught that in order to be good people, they need to vote for socialism. And they do. It’s only much later that the bill comes due – for now they are blissfully unaware of what they are doing to themselves.
Health insurance premiums have been going up since 2008
Remember, premium shave already gone up $3,000 on average since Obamacare was passed, despite Obama promising they would drop by $2,500. That’s a $5,500 difference.
From Investors Business Daily.
During his first run for president, Barack Obama made one very specific promise to voters: He would cut health insurance premiums for families by $2,500, and do so in his first term.
But it turns out that family premiums have increased by more than $3,000 since Obama’s vow, according to the latest annual Kaiser Family Foundation employee health benefits survey.
Premiums for employer-provided family coverage rose $3,065 — 24% — from 2008 to 2012, the Kaiser survey found. Even if you start counting in 2009, premiums have climbed $2,370.
What’s more, premiums climbed faster in Obama’s four years than they did in the previous four under President Bush, the survey data show.
There’s no question about what Obama was promising the country, since he repeated it constantly during his 2008 campaign.
In a debate with Sen. John McCain, for example, Obama said “the only thing we’re going to try to do is lower costs so that those cost savings are passed onto you. And we estimate we can cut the average family’s premium by about $2,500 per year.”
At a campaign stop in Columbus, Ohio, in February 2008, Obama promised that “We are going to work with you to lower your premiums by $2,500. We will not wait 20 years from now to do it, or 10 years from now to do it. We will do it by the end of my first term as president.”
A $5,500 difference doesn’t mean a lot to Obama. But maybe it means a lot to you. We’re going to find out exactly what we voted for very soon now.