Thursday, August 10, 2017

"6.5 million Americans payed a fine rather than signing up for Obamacare"

Via Drudge: The individual healthcare mandate requires every American to buy health insurance or pay a fine. In 2016, 6.5 million Americans chose to pay the fine rather than sign up for insurance on the Obamacare exchanges.

The mandate has always been the most unpopular part of President Obama’s healthcare law, officially known as the Affordable Care Act. In addition to those who pay the fine rather than buy the mandated levels of insurance, 15 million people would drop their Obamacare coverage if it were legal to do so.

This does not necessarily mean that these individuals want to go without insurance. Obamacare requires every insurance policy to cover a set of what it defines as Essential Health Benefits. The more benefits that a plan covers, the more expensive it is. Some people might prefer to buy less comprehensive insurance at a lower cost. For example, one option might be to buy insurance only for major healthcare costs such as surgeries or hospitalizations.

Since most Americans receive health insurance from their employer, the rising cost of healthcare is a key factor holding down wage growth. If the cost of benefits were the same today as a generation ago, the average pay for full-time workers would be more than $3,300 higher annually. Some people might prefer a bigger paycheck and less comprehensive coverage.

(Link to more)

10 comments:

Dickin'Bimbos@Home said...

To progressives, this means it's working.

Also, all of the tax payer bailouts to the large insurance companies that are built into Obamacare -- - that's progressive winning as well.

Never you mind all of the progressive whining about wall street and mega insurance companies. Obamacare is lovely.

AllenS said...

Does anyone know how much the fine is? I read these articles, but they are short on the info bit.

edutcher said...

People didn't want it, don't want it now, want to be rid of it, and can't wait for it to go away.

It would seem to make Songbird the most unpopular life form in America.

Leland said...

Allen, see here. Note, the information there is ambiguous thanks to a line that says "You'll pay whichever is higher" and then lists two Maximums. For instance, my fee could be twice that of one of the maximums listed.

Rabel said...

For tax year 2016, the penalty will rise to 2.5% of your total household adjusted gross income, or $695 per adult and $347.50 per child, to a maximum of $2,085.

ampersand said...

If any private company offered up this mess as Affordable Healthcare Insurance they would have been sued into oblivion by any national or local government agency for deceptive advertising. I hope John Roberts gets run over by a bus.

Amartel said...

The most unpopular entitlement program in the history of "free" stuff and yet it's still there.

edutcher said...

See, that's the point. Most of the nitwits that came up with it are either SJWs or lawyers who went directly into politics from law school. None of them know anything about people or what will play in Peoria.

That's why Social Security and Medicare worked. Most of the people behind it were old ward heelers who'd spent a lifetime listening to their constituents.

ampersand said...

If any private company offered up this mess as Affordable Healthcare Insurance they would have been sued into oblivion by any national or local government agency for deceptive advertising. I hope John Roberts gets run over by a bus.

Well, Songbird's already had that taken care of and I'm betting he's just the start.

bagoh20 said...

OK, so premiums have more than doubled. Deductibles are huge now, so you pay up front on top of the premiums. It's harder than ever to see a doctor and actually use the insurance. There are enormous subsides going to insurance companies and people are forced now to become customers. That all sounds like the insurance companies should be making it hand over fist, but they are pulling out of market after market, because they are losing money. SO, where is all the money going?



Jim in St Louis said...

"where is all the money going?"

Yeah, like the fine/tax/penalty thing for not having approved insurance, does that money go into a special fund to pay for the subsidies? or does it just go into like general revenue?

Obamacare was sold like a Rube Goldberg machine that would self perpetuate and 'save' money and reduce costs. But the machine needs a supply of healthy young mice to run on the wheel that starts the process, but I think the mice are smarter than the machine developers.