The Associated Press reports that insurance premiums will jump by 17% for young adults under ObamaCare. But AP has, we think, under-calculated the real increase.
Considering that young adults commonly go without insurance and then considering the fact that ObamaCare will now force them to buy insurance they don’t want, it seems to us that a more accurate description of the premium increase would be 117%.
The Associated Press reports the premium prognostication:
Under the health care overhaul, young adults who buy their own insurance will carry a heavier burden of the medical costs of older Americans — a shift expected to raise insurance premiums for young people when the plan takes full effect.
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.
So welcome aboard the ObamaCare Express, young Americans. You voted for the guy and now you’ll be forced to pay more for a service you don’t want and can’t afford.
Ahhh, the glories of socialism.
Source: Associated Press
