How Obamacare Will Hurt Young People

Dick Morris reports on the new health law:

Young people will be hit the hardest. The study predicted that premiums for new health insurance policies purchased by the youngest third of the population would rise by 35 percent under the bill.

These increases will stem from the bill’s provisions that bar insurance companies from raising rates on sick people and from excluding people based on pre-existing conditions. Both of these mandates will mean higher costs for the younger and healthier population. This bill is, in effect, a tax on the young.

Nor will subsidies do much to mitigate the impact. To get a subsidy under the bill, you have to earn less than about $80,000 a year (combined household income) and have spent between 2 percent and 10 percent of your income on premiums.

So a couple making a combined income of $40,000 would have to pay about 5 percent of their income, $2,000, before they could get subsidies. Those making $60,000 would have to pay about 8 percent of their income — $4,800 – before they could get a subsidy.