Obamacare Hits Young Adults’ Wallets Hard
The Left has a reputation for being good at advertising. They’ve worked hard to sell Obamacare to young people even though young people will be hurt the most by the destructive law. Or have they?
The Washington Free Beacon reports that the government is now handing out cash prizes for young people to make pro-Obamacare promotional videos.
Hey, maybe that will help them pay for government mandated insurance policies they can’t afford because they can’t find work in an Obama economy.
But I digress.
Back to the administration’s latest advertising scheme:
The Obama administration is co-sponsoring a video contest aimed at convincing young people to sign up for health insurance, the Department of Health and Human Services (HHS) announced on Monday.
The contest offers thousands of dollars in cash prizes to the winners, along with a “Stay Healthy Kit” to the first 100 participants. The kit contains a first aid kit, sun-protection kit, t-shirt, and water bottle.
HHS partnered with Young Invincibles, a health care advocacy group, to run the contest. It is unclear who is funding the contest. The prize kit is “Brought to you by CMS Marketplace & Young Invincibles,” according to the website. Centers for Medicare & Medicaid Services (CMS) is the federal agency in charge of the insurance exchanges.
As enticing as some sunscreen, a water bottle, and extra pocket change may be for young people, they should probably think through their decision to advertise a law that harms them directly.
We’ll be taking a financial hit when the Obamacare insurance exchanges open for enrollment on October 1. Health care experts have come to the same conclusion time and time again:
Two aspects of the law actually increase the cost of health insurance for young people, said Ed Haislmaier, a health policy expert at the Heritage Foundation.
First, insurance companies can only charge older people three times what they would charge younger people for the same plan. This rule compresses the typical spread of prices, causing the price of insurance for younger and healthier individuals to rise in order to subsidize the artificially low price for older people, Haislmaier said.
Second, all insurance plans have certain requirements for what they must cover and how they are structured, further driving up costs for younger people, he noted.
The National Center for Public Policy Research concluded that “millions of young people could save more than $1,000 next year by not signing up for insurance and paying the penalty.
The Heritage Foundation highlighted the perspective of many young people by showing this video: