The ACA, the acronym stands for Affordable Care Act, is a government Leviathan passed to destroy the American healthcare system and pave the way for the single payers system the progressives that hate private insurers – because of their insane feeling that evil private entities that want to make profits are somehow worse than unaccountable government bureaucrats with delusions of grandeur – pine for, will be anything but affordable. And all the people that thought they would keep paying the same, or were even dumb enough to think they would pay less or get shit for free, are going to end up paying more, for a lot less, and with longer waits. And if you are one of the young, you are going to pay a lot more:
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.
Now mind you that this revelation that the average young guy/girl – a demographic that more often than not doesn’t purchase healthcare insurance because, when the risk vs. rewards ratio is looked at, it simply isn’t a great investment, unless things go wrong – will end up paying from 97 to 99 percent more for the men and 55 to 62 percent more for the women, comes from numbers that the HHS reluctantly released. My bet, and this I admit is based mostly on a quick look of historical trends and nothing more, but for all intents of purposes, these historical trends when it comes to government wealth redistribution schemes is dead on, is that these numbers are low. Possibly by a double, if not triple, factor. Before you go saying I am just biased by my ideology, I point you to Social Security, which at its creation was projected to never exceed $9 billion in costs, but jumped that number in under two decades and now exceeds $700 billion per year in just retirement benefits, with total expenditures exceeding the money taken in starting in 2010 and the government requiring a massive tax hike of over $8.5K per citizen to pay back the $2.7 trillion they borrowed from the fund. I am not going to even bother pointing out the massive increase of supposedly disabled people sucking at the government’s teat in the last 5 years, with that trend continuing, either. The base numbers on this monstrosity so many think will be around to pay them what the government takes out of their paycheck, in what amounts to a Ponzi scheme that would send any non-government entity that structured their retirement plan like SS to jail, are enough to show the calamity of this sort of system.
Then we have Medicare. Riddled with fraud and waste, the program portends to help people, especially the elderly, by rigging the system in such a way that actually promotes the fraud and waste. Granted, the ACA, is also slated – supposedly, because this whole thing was a double counting accounting scheme that clearly will not result in any of the savings they pretended it would, so they could claim the ACA would save us money in the first decade – to gut Medicare, taking over half a billion dollars out of that program, mostly by addressing fraud and waste. The big problem is that the strategy the HHS seems to believe will give them this load of cash amounts to the profit scheme used by the “Underpants Gnomes”: Step 1 – Steal underpants. Step 2 – ….. Step 3 – PROFIT! It is bullshit.
There are many more of these bloated wealth redistribution programs that end up costing us tax payers far more than the government ever predicts. Do your own research. Pretending that the ACA will be the first one to deviate from this pattern is the height of disingenuousness, as most of us pointed out when Pelosi was telling us this thing had to pass for us to figure out what was in it and Obama assured us it would save us all money, cover everybody, while letting those of us that liked our plans keep them, and all of that while saving the government over $100 billion in the first decade! Forget the fact that the CBO projection that they used to make these claims was blatantly rigged: we now have proof that it was all lies. And we got that despite the fact the HHS has provided us with massive spin and very little substance:
Earlier this month, I and two colleagues from the Manhattan Institute—Yevgeniy Feyman and Paul Howard—published an interactive map that detailed Obamacare’s impact on individually-purchased health insurance premiums in 13 states plus D.C. As the accompanying article described, Obamacare increased premiums in those states by an average of 24 percent.
But those states were largely blue states that had set up their own, state-based insurance exchanges. The big data dump that we’ve been waiting for, since then, is from the majority of states that didn’t set up their own state-based exchange. That data is the responsibility of the Obama administration, namely HHS. Finally, with less than a week to go before the exchanges are supposed to go on-line, HHS has released a slim, 15-page report and a press release that summarize some of the premium data.
“Premiums nationwide will also be around 16 percent lower than originally expected,” HHS cheerfully announces in its press release. But that’s a ruse. HHS compared what the Congressional Budget Office projected rates might look like—in 2016—to its own findings. Neither of those numbers tells you the stat that really matters: how much rates will go up next year, under Obamacare, relative to this year, prior to the law taking effect.
Former Congressional Budget Office director Douglas Holtz-Eakin agrees. “There are literally no comparisons to current rates. That is, HHS has chosen to dodge the question of whose rates are going up, and how much. Instead they try to distract with a comparison to a hypothetical number that has nothing to do with the actual experience of real people.”
Even the partisan shills are admitting that Obamacare will cost far more than anyone predicted, hurt everyone including the poor children, not cover everybody as promised – in fact the number remaining uncovered seems to be just as large as the number of uncovered people before Obamacare goes live – and in general will bankrupt our economy as it turns this country into a part time workers wasteland.
I can attest to these problems from my own experience, even though I admit not to fall into the demographic category that this particular is speaking of. I have one less person on my plan, yet I am paying about 40% more than I was before this thing was passed. I checked how much my rates had been going up each year before Obamacare, and carrying that out I found that they grew by about 11% otherwise. That’s a big jump considering I am insuring one less person too. Our government is taking more than ever from the productive, and they keep telling us they need to take even more. Progressives need to stop pretending that the end goal isn’t complete control of all assets by the ruling elite, erm, I mean the state, like in the days of communism.
We need a law that makes our political class subject to whatever law they foist upon us. That will end this sort of us abuse of power. That, and we need to kill this monstrosity now and implement some real healthcare reform.