AP: Health premiums could rise 17 pct for young adults with ObamaCare

According to a study conducted by the Associated Press, health care insurance premiums under ObamaCare for younger adults “would likely climb by 17 percent on the average” as a result of the mandated cost shift within the legislation disproportionately to the younger population.  The AP says this could mean as much a $500 more per year for Americans in their twenties and thirties, and would have significant economic consequences.

Young, relatively healthy adults constituent a significant portion of the 40 million or so uninsured Americans that ObamaCare was supposed to help afford insurance coverage, and experts suggest nearly half of them are "voluntarily uninsured" as they have “enough disposable income to purchase health insurance.” Under ObamaCare, that freedom to choose is gone.  They will be forced to purchase insurance, and according to the AP at significantly higher cost than the premium levels they had previously opted to not pay. 

Those costs will come with consequences to an economy already struggling to create jobs again.  “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,” determines the AP. 

This AP report is juxtaposed to the sales-pitch that Obama and Nancy Pelosi were flaunting. For example, shortly before the final passage of ObamaCare, Nancy Pelosi claimed the legislation would create “4 million jobs over the life of the bill, 400,000 jobs almost immediately.”  In an interview with MSNBC’s Rachel Maddow, Pelosi reiterated the claim that ObamaCare would give the economy a big boost.  “Think of an economy where people could be an artist, photographer, or writer without worrying about keeping a day job in order to have health insurance…where people could start a business, be entrepreneurial, take a risk.”

 On Monday, March 10 at a staged Pennsylvania health care rally, Obama said, “Our cost-cutting measures mirror most of the proposals in the current Senate bill, which reduces most people’s premiums." But, just two days later, the Senate’s number two Democrat, Dick Durbin from Obama’s home state of Illinois, contradicted the President’s claim saying, “Anyone who tells you that premiums won’t go up isn’t being truthful.”

Shortly before the Senate passed their bill, the CBO likewise warned Congress that premium costs would go up under ObamaCare. The Democrats not only ignored the warning of higher premiums, they continue to claim just the opposite to be true.

Since ObamaCare was signed into law, scores of businesses, including Caterpillar, AT&T, John Deere, 3M, Verizon, and Valero, have announced that the hundreds of millions of new costs imposed by ObamaCare will result in reduction of benefits, wages, and jobs – just the opposite of what the Democrat leadership promised. With the new tax rules affecting over 3500 companies the effect will be deep and wide for the current workforce. The legislation will directly impact retiree benefits, as well, with analysts predicting “as many as 2 million could lose the prescription drug coverage provided by their former employers.”

 In one of her more memorable mindless moments, Pelosi said “we have to pass the (health care) bill, so you can find out what’s in it.” American’s have apparently found out quite a bit, and they don’t like it. Rasmussen finds that a week after ObamaCare became the law of the land, 54% favor complete repeal, only 17% think it will reduce costs as the President still likes to claim with 55% believing it will drive costs higher, 49% expect the quality of care will decline, and 60% say it will add to the federal deficit.

Since signing the legislation into law, Obama’s reaction to the public’s angst has been anything but conciliatory. He’s jetted around on Air Force One to mock the critics and rub their nose in his Presidential seal. “From this day forward”, he said in Iowa City, “all of the cynics and naysayers will have to confront the reality of what this reform is.” So much for government of, by, and for the people. Little wonder that Fidel Castro complimented Obama for his “miracle” passage of a health care plan like he imposed on communist Cuba decades ago.