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Hey Kids, Thanks To President Obama Your Health Insurance Premiums Are Going Up !

by @ 7:15 am on March 30, 2010. Filed under Barack Obama, Health Care Reform, Politicos & Pundits, Politics

Once again, we continue to learn more and more about this law:

CHICAGO – Under the health care overhaul, young adults who buy their own insurance will carry a heavier burden of the medical costs of older Americans — a shift expected to raise insurance premiums for young people when the plan takes full effect.

Beginning in 2014, most Americans will be required to buy insurance or pay a tax penalty. That’s when premiums for young adults seeking coverage on the individual market would likely climb by 17 percent on average, or roughly $42 a month, according to an analysis of the plan conducted for The Associated Press. The analysis did not factor in tax credits to help offset the increase.

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.

And, you’ll have ObamaCare to thank for it:

Insurers typically charge six or seven times as much to older customers as to younger ones in states with no restrictions. The new law limits the ratio to 3-to-1, meaning a 50-year-old could be charged only three times as much as a 20-year-old.

The rest will be shouldered by young people in the form of higher premiums.

Hope and change !

2 Responses to “Hey Kids, Thanks To President Obama Your Health Insurance Premiums Are Going Up !”

  1. Chris Berez says:

    I would like to hear comments from all those smug, self-righteous college students who were walking around like Obama was the new Messiah.

    So kids, what do you think now? Is this the “hope and change” you believed in?

  2. Once we swallowed the Social Security pyramid scheme, it was apparent that the we could be enticed into an ever-escalating game of debt-hot-potato, content to pay for someone else’s living because we’re sustained by the avaricious hope of having someone down the line pay for our own. And boy do we intend not to rack up a lot of expenses. Otherwise, it just wouldn’t be worth it.

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