The Poor Is Spending 10-20 Percent Of Their Income On Obamacare, Despite Subsidies

It seems that the American people are learning the hard way that they have been taken for a ride.

From Brietbart:

A new study from the Urban Institute finds lower income Americans paying 10-20 percent of their income on ObamaCare health benefits. These high costs come after generous federal subsidies covering premiums for individuals making up to $55,000 a year are considered.

Of course, the least healthy are paying even more of their income for ObamaCare, providing an overdue lesson on how insurance works.

How sad. Everyone warned us it would be bad but the stunning failure of Obamacare is going to be one for the history books. The very weight of the program’s ineptitude will crush it.

No Republican needs to repeal it. Leave it alone.

It will repeal itself… or the American people will do it.

Either way, the high water mark of leftist healthcare has been passed and now we must endure the rough seas of reality as they strike.

From Breitbart:

The fundamental vulnerability of ObamaCare is that relatively healthy individuals would decide that the costs of even subsidized coverage exceeded its benefits. According to the Urban Institute study, even relatively healthy individuals are paying over 15 percent of their income for ObamaCare health insurance plans.

The costs for insuring those with even modest health care needs are in effect subsidized by these healthier individuals. If these healthier Americans decide that even the subsidized costs are too high, they will likely opt out of the program entirely. This will push the costs of those with more health care needs even higher, creating what economists warn could be a “death spiral,” where both premium and out-of-pocket costs skyrocket.

These rising costs push even more people out of the program.

It cannot be overstated that the higher costs identified in the Urban Institute study have arisen in the first two years of ObamaCare, when overall costs were expected to be more restrained. Insurance companies charged relatively low premium costs, on the assumption that the pool of those covered would increase dramatically, offsetting the costs of the less healthy.

When Sarah Palin said “Death Panels” the left went crazy. Now they can embrace Death Sprial.

Palin was right. The critics were right.

The emperor has no clothes.

http://www.breitbart.com/big-government/2015/12/28/despite-subsidies-poor-spending-10-20-percent-income-obamacare/