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Triple Whammy For Young People: Mandatory Insurance Plus More Expensive Insurance Plus No Medicare For Them When They Get Old

If insurance companies charge their customers according to the usual methods of risk-analysis, then a 50-to-60-year-old should pay about six times as much as a 20-year-old for health insurance.  However, the impending health care monstrosity will allow older people to be charged only two or three  times as much as young people.  So, if you’re a young person who is already insured, then you’ll have to pay more to subsidize older people, and if you’re a young person who is uninsured then you’ll have to pay a LOT more.  This hidden tax would be related to youth rather than income, and thus would be very unfair and regressive.

I’ve already mentioned that the constitutionality of a federal mandate to buy health insurance is questionable.  Adding on a large premium increase for young people would add insult to injury.  Economically, these huge hidden taxes on young people would drain a large source of consumer spending from the economy.   And since this plan would ultimately bankrupt Medicare by diverting Medicare funds to subsidize insurance for more people, today’s young people would be deprived of Medicare by the time they get old.

I guess it’s no surprise that the main congressional proponents of this plan have a lot of wrinkles.  Nor is it surprising that they want to hide both the plan and the wrinkles from the public, from the GOP, and from C-Span.

I currently pay $80 per month for my policy.  It has a high deductible, but I like it.  If Uncle Sam tries to force me to pay much more than that, then I’d prefer to pay the $750 annual fine.  What the heck, I can always sign up for insurance if and when I get sick or injured, right?  Millions of people will make this same kind of decision, and so Uncle Sam would have to increase the fine.

I wonder how many Americans understand what a tricky, coercive plan is about to be foisted upon us all.  It’s all a big, dangerous shell game so that politicians can disingenuously claim that they are not rasing taxes.

Frankly, I wouldn’t mind very much if a state requires citizens to buy basic catastrophic health insurance of their choice, if they can afford it, because then John Q. Public would not be stuck paying for so much free health care for the uninsured.  But Obamacare goes way, way beyond that, and not in a good way.  It’s kind of ironic that Obama got so much of the youth vote (66% of 18-24 year olds). During the recent debate on the Senate floor leading up to the cloture vote on this legislation, Senator McCain lamented that Obamacare amounts to intergenerational theft in the sense that it would bloat the national debt, Actually, it’s intergenerational theft in many more ways than that.

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