Like food makers claiming “fat free” on the front of the box only to have a close reading of the ingredients on the side of that same box reveal a product packed with unhealthy, unpronounceable names of chemical toxins, Obamacare’s cheerleaders gush forth superficial claims about the reform policy’s success.
For instance, supporters in Kentucky and nationwide slapped a label in big letters on the front of
Just days before a recent government report forecasting a 25-percent increase in premiums in the 39 states that use
We’ve heard similar claims in Kentucky, where proponents allege the commonwealth’s
Yet 80 percent of Obamacare’s
Nationally 97 percent, or nearly 9 million of the 9.25 million newly insured who enrolled for coverage using the federal platform or one of the state
Obama says states shouldn’t worry about future costs of such dramatic increases in Medicaid enrollment, because, after all, “the federal government is paying for it.”
Yet states will be required to start picking up a significant portion of the bill delivered by their expanded Medicaid populations next year.
How does Obama expect Kentucky with its worst-in-the-nation pension crisis to pay for an additional 400,000 Medicaid
Does the federal government have a special printing press somewhere designed to spit out special
Besides, have you checked your pay stub?
If you see “SWT” and “FIT,” it means that not only have you been paying for your state’s Medicaid program and its expansion — which, in Kentucky’s case, was $1.8 billion higher than even expected during its first 18 months in 2014 and 2015 — but guess who pays when “the federal government is going to pay for most of it?”
Yep. That would be you, too.
Another reason for Obamacare’s implosion is its attempt to impose a one-size-fits-all regulatory and pricing scheme on insurers.
Forcing men to pay for maternity coverage and denying healthy young people the opportunity to purchase a higher-risk, lower-cost plan isn’t exactly motiving millennials to sign up.
While these young adults may have flocked to former presidential contender Bernie Sanders while he was holding court during this year’s primary campaign to extol the virtues of forced sharing and the vices of liberty and profit, they’re not biting when it comes to surrendering their money and personal liberty to Obamacare and its mandates forcing insurers to charge younger, healthier people higher rates to pay for older, sicker patients.
While it would be difficult to find a more Sanders-like program than Obamacare, 18 to 34-year-olds are read the side of the box where they found “likely failure” among the ingredients and are choosing instead forego the higher rates and pay the fines instead.
In fact, this demographic group purchases only about a quarter of the Obamacare plans when actuaries say 40 percent is required to offset the costs incurred by older, sicker workers.
Insurers, unable to keep carrying such significant losses, are fleeing the Obamacare exchanges faster than Aroldis Chapman’s fastball, leaving customers with fewer choices and even-higher costs.
Jim Waters is president of the Bluegrass Institute; Kentucky’s free-market think tank. Reach him at [email protected] Read previously published columns at www.bipps.org.