The detractors of Obamacare have continued to warn us of the dire consequences of its implementation and no matter how often their predictions are proved wrong they don’t give up. They predicted “death panels” and were proved wrong, the item in the original bill that was used to “prove” the reality of those panels was removed before it ever came to the floor. The IRS will have access to all of our health records, again debunked, they were never going to have that access, their only role is in verifying that everyone is insured, a task easily accomplished with a form similar to the W-2 we now file to prove our income and withholding for the year. Young people do not buy insurance because they are healthy and don’t feel they need it. Studies have shown that the vast majority of young adults would welcome the chance to purchase affordable health insurance.
That last one is very important to the success of the plan since large numbers of uninsured young people entering the marketplace spreads the costs over a much wider spectrum and lowers the cost for everyone. Recent studies have shown that with the influx of the young and government subsidies insurance will indeed be much more affordable.
As Think Progress reports, the Department of Health and Human Services recently released a study showing that nearly six and a half million Americans will be able to obtain a Silver plan through the health exchanges for under $100 per month. Even though many of the marketplaces have yet to release their estimated premiums the department was able to estimate the costs based on the rules governing subsidies as laid out in the law.
Families with income up to 400% of the federal poverty rate will be eligible for the subsidies, for a family of four an income of up to $94,200 would qualify them for government assistance in paying for their health insurance.
This latest report lines up with previous estimates which have shown that approximately 48% of all Americans will qualify for a subsidy to obtain their insurance with an even higher percentage among those in the 18-34 demographic, they are the largest group who will benefit from the subsidy program.
A constant criticism of the law has been that it will dramatically increase everyone’s rates, none of the models used to prove this have taken into account the effect the subsidies will have on effective rates nor do they consider the fact that the plans purchased under the new law will not be the same as what is now available due to provisions that policies will have to meet certain requirements which do not now exist. Comparing current plans with the new ones is comparing apples and oranges.
Another group of Americans will pay under $100 with many paying nothing because they will qualify, in the states that have opted into the Medicaid expansion plan, for Medicaid. Estimates say that another 12.4 million will be eligible for this coverage.
What it all boils down to is that all of the horror stories about the damage that Obamacare is going to do to the nation are just that, stories. They have no basis in fact and many are driven by nothing more than a deep dislike for the President and a desire to see him fail on every front. This is the law of the land now though, it is here and it is not going away so people may as well suck it up and accept it — much like many of us had to do for eight years of the Bush II
reign of terror administration.