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ObamaCare: Still a Bad Deal for Young Adults
fox ^ | 4/2/10 | Aaron Yelowitz

Posted on 04/02/2010 11:50:20 AM PDT by Nachum

The Associated Press reports that young adults will face higher premiums under ObamaCare:

Beginning in 2014, most Americans will be required to buy insurance or pay a tax penalty. That’s when premiums for young adults seeking coverage on the individual market would likely climb by 17 percent on average, or roughly $42 a month, according to an analysis of the plan conducted for The Associated Press. The analysis did not factor in tax credits to help offset the increase.

The higher costs will pinch many people in their 20s and early 30s who are struggling to start or advance their careers with the highest unemployment rate in 26 years.

The article cited additional studies estimating premiums increases young adults as high as 50 percent. That was essentially the message of my recent Cato briefing paper, “ObamaCare: A Bad Deal for Young Adults.”

Supporters claim the new law provides subsidies that would help people afford the higher premiums. As I write in my paper, however:

The money for those subsidies has to come from somewhere, though. Presumably, some of it would come from young adults themselves in the form of higher taxes or the tax penalties imposed on those who do not purchase insurance…So the presence of subsidies does not necessarily mean that young adults would come out winners. Ironically, all the complexity may actually help the legislation pass Congress precisely because it obscures whom the legislation would tax.

(Excerpt) Read more at video.foxnews.com ...


TOPICS: Government; News/Current Events
KEYWORDS: bad; deal; obamacare; young

1 posted on 04/02/2010 11:50:20 AM PDT by Nachum
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To: Nachum
A great sign that's up on Drudge:


2 posted on 04/02/2010 11:53:18 AM PDT by Travis McGee (---www.EnemiesForeignAndDomestic.com---)
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To: Nachum

“The higher costs will pinch many people in their 20s and early 30s who are struggling to start or advance their careers with the highest unemployment rate in 26 years.”

I don’t know why...if I were them, I would not buy insurance...with no pre-existing conditions, i would simply wait until I needed insurance then buy it.

It will screw everybody then, because we will have to make up for their lack of participation in the pool, which will be heavily felt.


3 posted on 04/02/2010 11:55:05 AM PDT by jessduntno ( If someone calls me racist, I reply "you are just saying that because I'm white!")
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To: Nachum
ObamaCare: Still a Bad Deal for Young Adults EVERYBODY EXCEPT CONGRESS WHO APPARENTLY IS NOT SUBJECT TO ITS PROVISIONS.
4 posted on 04/02/2010 12:00:36 PM PDT by Jim 0216
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To: Jim 0216

PING, this group of folks are friggin crazy for commies, koo koo for UH_Bummer puffs..


5 posted on 04/02/2010 12:16:27 PM PDT by aeonspromise
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To: Travis McGee
Check out this sign:

Accompanying story can be found at the link below:

Doctor tells Obama supporters: Go elsewhere for health care


6 posted on 04/02/2010 12:45:14 PM PDT by ravingnutter
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To: jessduntno

That’s what I’m doing. Working well so far.


7 posted on 04/02/2010 1:20:52 PM PDT by BenKenobi ("we shall defend our Island, whatever the cost may be")
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To: Nachum
It won't so much pinch them as it will make them dependent on the government. Which is, of course, the intent.
8 posted on 04/02/2010 1:56:30 PM PDT by ArmstedFragg (hoaxy dopey changey)
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