Monday, March 25, 2013

World To End In Nine Months, Democrats Certain To Be Hardest Hit

Obamacare will kick in in just nine months. Everybody to suffer. Now we'll find out what's in it.
People in their 20s and 30s will be clobbered — their health-insurance premiums will double (or more), insurers report. Nineteen percent of the president’s 2012 voters came from this age group. The biggest problem: The Obama law forces insurers to charge young, healthy people more to cover the cost of insuring the middle-aged and those with pre-existing conditions. 

Middle-aged folks will benefit somewhat from overcharging the young, but the law’s mandatory benefits package and its billions in new taxes on insurers will drive up costs enough that overall premiums for a family of five will start at $20,000 (before subsidies, if any). Oh — and that doesn’t count the penalty for each smoker, roughly $3,000 a head.

(Subsidies may help some people cover sky-high premiums, though not the smoking penalty — but the letter of the law makes those subsidies unavailable in many states. The federal courts will eventually decide the issue.)

Many workers in industries such as retail, hospitality and home care will lose on-the-job health coverage, forecasts the ADP Research Institute — and many will also be demoted to part-time status because of ObamaCare.

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