4 ms·
There are lot's of good reasons to be against the Act. How about it forcing the young and relatively poor to subsidize the old and relatively rich -- it's a gi
by dantheman 14y ago
There are lot's of good reasons to be against the Act. How about it forcing the young and relatively poor to subsidize the old and relatively rich -- it's a giant intergenerational wealth transfer mechanism.
Young adults will pay higher premiums under Obamacare because of its age rating system. The law stipulates that the maximum variation allowed in adult premiums is a cost ratio of 3 to 1. But as Heritage research shows, “The natural variation by age in medical costs is about 5 to 1—meaning that the oldest group of (non-Medicare) adults normally consumes about five times as much medical care as the youngest group.” Obamacare’s “rate compression” causes insurers to charge artificially low premiums for older adults and higher premiums for younger adults. Moreover, “Actuaries estimate that the effect will be to increase premiums for those ages 18–24 by 45 percent and those ages 25–29 by 35 percent while decreasing premiums for those ages 55–59 by 12 percent and those ages 60–64 by 13 percent.”
http://blog.heritage.org/2012/03/21/obamacares-2nd-anniversary-no-gift-for-young-americans/ http://blog.heritage.org/2012/03/21/obamacares-2nd-anniversa...
- cecilpl 14y agoRemember the perfect is the enemy of the good. Don't oppose the Act because it doesn't bring about the best possible world. Oppose it only if it's worse than the currently existing situation.
- dantheman 14y agoI oppose it because I think it will make the situation much worse. I prefer working in the direction of freeing healthcare not regulating it further.
- helmut_hed 14y agoThe Heritage Foundation may be slightly biased on these issues...
- nijk 14y agoWhen those young people get old, they will have paid their fair share. The transition is of relatively minor importance.