Millennials

Millennials Have No Idea That This Disaster Is Coming

The overeager and overzealous proponents of The Patient Protection and Affordable Care Act (ACA, Obamacare) continue to lie through their teeth to prop up Obamacare, labeling it “as the greatest thing since sliced bread.”

From rising prescription drug prices and astronomical premiums, a question looms: Who will pay for these long-term costs?

With more than $30 billion dollars of subsidies already invested, who will be burdened with paying the tab and solving the social damages of ACA?

Millennials.

screenshot: wikipedia
screenshot: wikipedia

 

Michael F. Cannon of the Cato Institute argues that the self-entitlement and belief of entitled service that resonates among the younger generation will result in higher costs for employers and recipients of employer-based health care because of a so-called “Millennial Mandate.”

Cannon, in his Forbes column, explains that the millennial mandate is, “the requirement that employers who offer health coverage for employees’ dependents continue to offer such coverage until the dependents turn 26 years old.” He further characterizes this as a deeply rooted “hidden cost” to the perception that millennials view it as a “free lunch.” The truth of the matter is, Cannon, who is not a millennial, hits the problem right on the nose.

The ACA has and will continue to levy disparaging costs on young people at an overly exorbitant rate. The ACA was programed to burden the healthiest and the youngest people to bear the brunt of  its costs.

Creighton Institute for Economic Inquiry study revealed that the overall wealth under the ACA is experiencing a marked shift from millennials to baby boomers– because the ACA was designed to burden the healthiest and youngest people to bear the brunt of its costs. It reported:

“One would expect an older individual to pay premiums that do not fully cover their medical expenses in comparison to a younger individual who would pay premiums that more than cover their expenses.”

Combining this reality with the millennial mandate evidences that stark reality that healthcare costs will be inflicted in two ways. First, the increased costs are hidden within the ignorant employee (parents) whose dependents are forced to stay on health insurance. Second, these costs threaten the young person’s access to care, if they attempted to get coverage independent of their parents, which could cause further economic instability. Rooted to these facts is the reality that the ACA is a policy created specifically to force dependency, and to fundamentally eliminate the power of the consumer.

The ACA has already cost taxpayers billions of dollars and it has all but ended the health insurance industry as we once knew it. Multiple states are experiencing rising health premium costs at an average increased rate of slightly over ten percent. Premiums in Denver, Colorado, alone, have increased in cost by over 32 percent, according to the Kaiser Family Foundation. And this city isn’t alone. Small businesses have so far borne the brunt of staggering costs, the majority surveyed experienced increased costs by 87 percent.

Is it really progress, as Obama has suggested, when the ACA casts economic doom on millennials and even younger generations?

The Department of Health and Human Services estimated that a “hypothetical” 27-year old Texas male, earning an income of $25,000 annually, will only pay $83-145 per month. However, US News & World Report pointed out that, “such plans would likely come with a $5,000 deductible and a $6,350 out-of-pocket maximum.” For this “hypothetical,” this Texan would be forced to spend upwards of 30 percent of his annual gross income on healthcare coverage– because of Obamacare.

U.S. News explained, “Younger, healthier Americans are required under Obamacare to overpay for their insurance so that older, sicker, and (by and large) wealthier Americans can underpay for their insurance.” 

The trick Obama used to doom Millennials and even younger generations is called, “community-rating price controls.” These price controls were incorporated into the ACA as part of a large deception intended to blindside the very people Obama claimed the ACA was created “to help.” This deception occurs when healthy, able-bodied Americans experience increased rates to subsidize the care for the sick.

 

Image Source: Pew Research - Wikipedia, Courtesy of neosperience.com.
Image Source: Pew Research – Wikipedia, Courtesy of neosperience.com.

As John C. Goodman for the National Center for Policy Analysis puts it, “the insurers would try their best to avoid the old and the sick and sell only to the young and the healthy. Perhaps they would locate in a tree house that is accessible only by climbing a long rope.”

A very long rope, indeed.

In the end, the fight will not stop until Obamacare is repealed. The rising costs won’t stop unless someone fixes it, either.

My dear, fellow Millennials, step up for once.

Tags

Michael McGrady

Michael McGrady’s work has been featured in The Wall Street Journal, Drudge Report, The Denver Post, and several other publications. Follow him: @MikeMcGrady2

Please leave your comments below

Facebook Comments

Disqus Comments