ObamaCare Could Cause Your Premiums to Double in 2014
Thanks to ObamaCare, you’re going to be paying more for your health insurance in 2014 - a lot more. According to health insurers, the provisions of the law that roll out next year could cause premiums to take a massive jump - up to doubling for some people. According to the Washington Post, the hardest hit will be those who buy their insurance on their own, and some small business:
…the biggest price hikes are expected to hit a group that represents a relatively small slice of the insured population. That includes some of the roughly 14 million people who buy their own insurance as opposed to being covered under employer-sponsored plans, and to a lesser extent, some employees of smaller companies.
Those of us with any sense have long predicted this would be the case. The law is expressly designed to make premiums higher for the healthy in order to make them lower for the unhealthy. This is literally the exact opposite of what “insurance” is supposed to do. Instead of charging based on an assessment of the insuree’s risk of incurring expensive costs, premiums will now be shifted in order to be more “fair”. Meanwhile, the taxpayer will be stuck with the bill for the subsidies given to help people afford these higher premiums.
Needless to say, this will have significant impact on the economy which is already not in great shape. And not much can really be done now. ObamaCare is here to stay for now, despite some Republicans’ efforts to repeal it. The law remains unpopular, but repeal is not going to happen now, and such efforts are a waste of time.
Instead, those of us who opposed the law need to be learning about health care issues, educating our friends and family, and explaining why shifting costs from the unhealthy to the healthy makes no sense. As sad as it may sound, the pain caused may just be enough to make people open to new ideas. Obama is certain his law will become more popular as it takes effect. Let’s make sure the opposite is true.