Obamacare is a massive failure. It’s not only killing the economy, it has also obliterated the American middle-class.Obamacare is projected to cost $1.938 trillion over ten years (exactly $1 trillion more), only 9 million people have insurance through its exchanges as of 2017. What are Obamacare’s flaws?
As the law has been implemented there have been certain sections that work better than others, and some that cause problems for consumers. The Obama administration and Democratic members of Congress have tried to push through fixes that they say would alleviate these problems; the Republicans say the flaws are evidence of a failed programme.
By now, young adults have heard that they are key to making Obamacare work, and the Obama administration has spent ample resources trying to convince them that the law is a good deal for them. But they don’t seem to be buying in. A new Harvard poll shows that 57 percent of young adults polled disapprove of the health care law. And with good reason: The law will impact young adults’ wallets far more negatively than older adults in two big ways.
- Higher premiums. First, it’s the Obamacare community rating rule. This rule forces insurers to limit the difference they are allowed to charge based on age. The result is that younger adults will have to pay artificially higher premiums than they would have paid before Obamacare, to help offset the higher costs of insuring older and sicker people.
- Not such a great deal on subsidies. The law’s supporters always claim that the rate shock factor isn’t a big deal because most people in the exchange will qualify for subsidies. Moving past the fact that subsides are not free – the Congressional Budget Office projects they’ll cost taxpayers over a trillion dollars by 2023 – many young adults won’t qualify for subsidies, or if they do, their subsidies will be far less than those received by older adults.
Some of the bigger problems include:
- The Supreme Court’s 2012 ruling found the ACA constitutional, but also struck down a provision saying states had to change how they administered the government health programme Medicaid. Under Obamacare, states were supposed to expand the number of people who qualified for Medicaid, which had been reserved for the poor, and in return the federal government would provide the states more funding. The court said states could choose not to participate in Medicaid expansion. As a result, poor and working-class families who don’t qualify for Medicaid find themselves having to pay for private insurance.
- Insurance companies are backing out of participating in Obamacare because fewer Americans than anticipated are signing up; that in turn raises insurances costs for everyone, which then further drives down participation. For some middle-income Americans, the subsidies available for buying Obamacare policies are not generous enough and the fines for not having coverage are too small to encourage them to enroll in plans.
- Premiums are to rise by an average of 25% in 2017. This increase was predicted at the start of the law, and government subsides to help pay for insurance will also increase. But those who should be covered by the Medicaid expansion aren’t eligible for those subsidies.
It’s not fair. If we’re expected to live with this , they should be too. Please sign the new petition, demanding Congress be forced to use Obamacare.
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