Obamacare Enrollment 30% Less Than Previously Expected; Spike In 2015 Premiums Imminent

[Lucille]

Just a reminder of the disaster that the Obama admin's "noble" lies have led to.

http://www.zerohedge.com/news/2014-1...remiums-immine

While the small business scourge that is Obamacare may not last very long now that the GOP has full control of Congress, and a scourge it is according even to the Philly Fed itself as per "Obamacare Is A Disaster For Businesses, Philly Fed Finds"...


[...]
The reason: according to the WSJ, moments ago the Obama administration revised its estimate for Obamacare enrollment, now saying - with the bruising midterms safely in the rearview mirror - that it expects some 9.9 million people to have coverage through the Affordable Care Act’s insurance exchanges in 2015, millions fewer than outside experts predicted.
[...]
So really 8 million, or less? Which is great news for the economy as it means less forced wealth redistribution, if less than great news for the administration's propaganda. Recall that as recently as two months ago this number stood about 30% higher: according to a projection by the Congressional Budget Office, some 13 million Americans were expected to enroll in Obamacare in the coming year. But what's some 30% between friends? Just blame it on seasonal adjustments. And don't forget: the US budget deficit needs to soar in the coming years to open the much needed capacity for the Fed to monetize even more debt because everyone who lived through October 15 saw what will happen if the Fed continues to monetize more than 100% of net issuance.
[...]
And with Obamacare's punitive measures having been delayed through 2015 in hopes of "buying" the midterm elections, hopes which now lie crushed in a smoldering heap, next up is the real sticker shocked:

A new window-shopping tool on the federal insurance website that made its debut late Sunday is giving consumers the first glimpse of health-insurance prices for next year. Many people who bought insurance plans through HealthCare.gov will see their premium increase in 2015 unless they are willing to switch insurance carriers.

Changing plans to ones which have far worse deductibles and coverage, which of course is par for the course for anything the government gets its hands on. For everyone else, well: there are higher prices which will more than offset the temporary gas price drop holiday:

[r3volution 3.0]

About that spike in premiums, I'll just post my own little story.

As a college student, I've had my own private health insurance for several years. It's ~$80/month, and it's really quite good.

It's being eliminated at the end of the year. And what are my new options?

A. Pay $325/year in fines for no insurance at all.

B. Pay ~$170/month for an Obamacare catastrophic plan, which is essentially the same as having no insurance.

C. Sign up for Medicaid (!)

...$#@!ing outrageous.

[speciallyblend]

i cannot comply with extortion.

[Acala]

About that spike in premiums, I'll just post my own little story.

As a college student, I've had my own private health insurance for several years. It's ~$80/month, and it's really quite good.

It's being eliminated at the end of the year. And what are my new options?

A. Pay $325/year in fines for no insurance at all.

B. Pay ~$170/month for an Obamacare catastrophic plan, which is essentially the same as having no insurance.

C. Sign up for Medicaid (!)

...$#@!ing outrageous.

I'm sorry for you. It is the young people that have been most royally screwed by this program. They were the sacrificial goats. And they didn't even know it. To hear the old people crying about it, you would think THEY were the ones being screwed when in fact they are being subsidized by the young, healthy people being forced into the pool at higher rates than they deserve. Once again, America eats its young.

But here is the good news - even with the massive gouging of young people, the program has failure baked in. It won't last. It can't last. It has done nothing to contain costs. On the contrary, it has goosed demand once again. It will get so expensive so fast that the government will have no choice but to replace it. Unfortunately, there are very few in Washington who have the stones needed to push a truly free market as the replacement.

[Dianne]

Keep in mind that 40% of Medicaid recipients are immigrants. Obama is about to add upwards of 5,000,000 illegals into Obamacare which will make his enrollment numbers look better. Problem is so many millions more to be subsidized by the young and healthy with hours cut back to 30 per week.

This new Congress must repeal. The news media spins the republican majority as proof Americans want to stop gridlock. That is not it at all.. The Americans voted a republican majority to stop that lying lunatic in the White House from enacting any legislation in the coming two years. I wish Obama would live on the golf course for 26 months.