Obamacare Hurts the Young
Posted November 23rd, 2009 at 12:38pm in Health Care 
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After noting that Social Security, Medicare and Medicaid spending totaled $1.3 trillion, 43 percent of federal spending and more than twice military spending, in 2008, the Washington Post’s Robert Samuelson turns to Obamacare:
Now comes the House-passed health-care “reform” bill that, amazingly, would extract more subsidies from the young. It mandates that health insurance premiums for older Americans be no more than twice the level of that for younger Americans. That’s much less than the actual health spending gap between young and old. Spending for those age 60 to 64 is four to five times greater than those 18 to 24. So, the young would overpay for insurance that — under the House bill — people must buy: Twenty- and thirtysomethings would subsidize premiums for fifty-and sixtysomethings. (Those 65 and over receive Medicare.)
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Although premium changes would apply mainly to people using insurance “exchanges,” the differences would be substantial. A single person 55 to 64 might save $3,490, estimates an Urban Institute study. By contrast, single people in their 20s and early 30s might pay about $600 to $1,100 more. For the young, the extra cost might be larger, says economist Diana Furchtgott-Roth of the Hudson Institute, because the House bill would require them to purchase fairly generous insurance plans rather than cheaper catastrophic coverage that might better suit their needs.
Whatever the added burden, it would darken the young’s already poor economic prospects. Unemployment among 16- to 24-year-olds is 19 percent. Peter Orszag, director of the Office of Management and Budget, notes on his blog that high joblessness depresses young workers’ wages and that the adverse effect — though diminishing — “is still statistically significant 15 years later.” Lost wages over 20 years could total $100,000. Orszag doesn’t mention that health-care “reform” might compound the loss.
Samuelson also goes after the AARP, so read the whole thing, here.
As we’ve noted before, the young are not the only losers under Obamacare. Particularly the poor and small businesses take a heavy hit too.
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9 Responses to “Obamacare Hurts the Young”
Freedom of Speech, TX on November 23rd, 2009 at 12:38pm said:
The ironic thing is that the perpetrators of this economic and fiscal crime against the American Taxpayers will be long gone by the time the REAL IMPACT is realized.
They will be multi-millionaires with nice fat pensions, and secure both in home and person.
Many will undoubtedly become lobbyists and further fatten their personal fortunes. All of those government contacts DO come in handy, don’t they?
The worst thing is that they will blame everyone but themselves for destroying the opportunity for millions.
Roger S., Ma. on November 23rd, 2009 at 12:38pm said:
Surprise!!!!!!!!
Still hoping for change???????
(Pleasant dreams to the young “Kool-Aid drinkers” who’re checking this out, still hoping Santa’s only weeks away!)
Keep dreaming!
Bobbie Jay on November 23rd, 2009 at 12:38pm said:
OBAMACARE will hurt all who love and came to love this country.
My children, (1 young adult,) knows Obama well!
It’s funny how some parents are okay with exploiting their children into this Obamacare. I heard a commercial, paraphrasing a young child about 8, “if I don’t get healthcare, I’ll die.” To which point I would file a grievance against the parents for child neglect. What weak parents to put their children into this deceptive cover-up and corruption.
Bobbie Jay on November 23rd, 2009 at 12:38pm said:
picking on the vulnerable. now that’s WEAK!
Tim Az on November 23rd, 2009 at 12:38pm said:
Liberals on the fast track creating and maintaining losers from cradle to grave. Is their no end to the cruelties of liberalism? Mmm MMm MMMM
Jan,NC on November 23rd, 2009 at 12:38pm said:
Can we think outside the box? I mean really outside the square plain box? Is it possible for the G-20 to build a money for health care which will aid them with specaltors raids and balance against trade tensions in our global world? Like yen and yang, their own currency balancing against the healthcare money. There are enough smart financial people to determine the formula needed if we wanted it. Where do you get the “value” without taxing the people into nonexistence? Any value is agreed by the people involved or it would not have value.
Slick on November 23rd, 2009 at 12:38pm said:
Okay, Bobby Jay, you think that picking on our young people is WEAK???
What about cutting the benefits to our elderly by $500 billion dollars when they have paid into the system all of their lives!!! At least the young still can go out and work . . . what are the elderly supposed to do??
In my estimation picking on the elderly is a form of ABUSE!!!
Kelly, NM on November 23rd, 2009 at 12:38pm said:
I’m wondering if the figure for unemployment among 16-24 year olds includes students in college, many of whom are covered under their parents’ plans. Also, I see nothing wrong with a preventative care mentality — catastrophic insurance doesn’t cover regular doctor visits and checkups nor does it cover medication. Less money WILL be spent with proper preventative care in the long run, or at least I haven’t seen figures that dispute this concept.
Bobbie Jay on November 23rd, 2009 at 12:38pm said:
100% in agreement, Slick! TOTALLY AGREE WITH THE FACT THAT GOVERNMENT IS ABUSING THE ELDERLY. government is ABUSING ALL OF AMERICA!