In fact, as we have been saying in this space and on The Teri O’Brien Show, Obamacare was never designed to reduce your health insurance or medical expenses. It was always conceived as a wealth and income redistribution scheme to redress the “unfairness” that results when some people, those who finish school, don’t have illegitimate children, and otherwise live as productive members of society, have access to better health care than bums, serial sperm donors and their baby mamas, and the other “victims” of racist, imperialistic Amerika. From USA Today:
More than half of the counties in 34 states using the federal health insurance exchange lack even a bronze plan that’s affordable — by the government’s own definition — for 40-year-old couples who make just a little too much for financial assistance, a USA TODAY analysis shows.
Many of these counties are in rural, less populous areas that already had limited choice and pricey plans, but many others are heavily populated, such as Bergen County, N.J., and Philadelphia and Milwaukee counties.
More than a third don’t offer an affordable plan in the four tiers of coverage known as bronze, silver, gold or platinum for people buying individual plans who are 50 or older and ineligible for subsidies.
Those making more than 400% of the federal poverty limit — $47,780 for an individual or $61,496 for a couple — are ineligible for subsidies to buy insurance.…
The prices of exchange plans have shocked many shoppers, especially those who had plans canceled because they did not meet the ACA coverage requirements. But experts are not surprised.
“The ACA was not designed to reduce costs or, the law’s name notwithstanding, to make health insurance coverage affordable for the vast majority of Americans,” says health care consultant Kip Piper, a former government and insurance industry official. “The law uses taxpayer dollars to lower costs for the low-income uninsured but it also increases costs overall and shifts costs within the marketplace.”
Along with underscoring how high rates are in many places, the analysis could portend more problems for the health law’s troubled rollout. The Congressional Budget Office projected 7 million people would sign up for the law by the end of 2014 and enrollment is already falling several million short of that goal. Insurers need a lot of relatively healthy people to sign up for insurance to make up for the higher cost of insuring the less healthy. Highly subsidized lower-income consumers who haven’t had insurance before often weren’t getting regular doctors’ visits. If many of those making about $50,000 for an individual or about $62,000 in household income for a couple opt out of the new health care system, it will deprive it of some of the counterbalancing effect needed.
Hello, Death Spiral. I hope that the insurance executives who thought it was such a great idea to make a deal with the devil, delighted that the federal government was going to put its boot on everyone’s neck and force each and every one of us to buy their product, have learned their lesson now that the One has thrown them under the bus by saying “Oh, never mind. You don’t have to buy insurance next year after all.” They still have to insure the millions of old and sick people who fell all over themselves to buy “insurance” without any restrictions against pre-existing conditions, which of course is not insurance at all. It is income redistribution, which is where we started this post in the first place.