Insurance Rates May Double for Some Under Obamacare
Many young, healthy Americans could soon see a jump in their health insurance costs, and insurance companies are saying: It’s not our fault.
The nation’s insurers are engaged in an all-out, last-ditch effort to shield themselves from blame for what they predict will be rate increases on policies they must unveil this spring to comply with President Obama’s health-care law.
Insurers point to several reasons that premiums will rise. They will soon be required to offer more-comprehensive coverage than many currently provide. Also, their costs will increase because they will be barred from rejecting the sick, and they will no longer be allowed to charge older customers sharply higher premiums than younger ones.
Supporters of the law counter that concerns about price hikes are overstated, partly because federal subsidies will cushion the blow.
That shows the stupidity of the supporters of the law.
So if they don’t pay higher premiums now because it’s subsidized, they will pay for it later when they pay taxes.
Either way, they’re paying for it.