Nancy Pelosi Doesn’t Seem to Care Your Premiums Are on the Rise
Not everyone on the Left is in the same state of denial about the “success” of the Obamacare exchanges. Some Liberal pundits and commentators have expressed their embarrassment and frustration. Former White House press secretary Robert Gibbs called the Obamacare rollout “excruciatingly embarrassing.”
But Rep. Nancy Pelosi (D-CA) 14%, House Minority Leader, seems to be optimistic about the website’s failure.
She stated the obvious Thursday that the Obamacare enrollment website “has to be improved,” but her remarks give the impression that she isn’t really phased by the website’s failure… perhaps she hasn’t spent over two weeks like other Americans trying to sign up for a plan.
She told reporters:
There’s no question that what’s happening with the system for the national plans is something that has to be improved. They were overwhelmed by the traffic. OK, but now let’s see how long it’s going to take to have that be fixed.
“OK, but now let’s see how long it’s going to take to have that be fixed,” she asks. That has yet to be seen. However, as the Washington Examiner notes, the longer it takes, the more frustrated individuals could become trying to sign up. And that could result in fewer people signing up than the Administration had hoped – and fewer than would be needed to ensure the law has any semblance of workability:
The success of Obamacare hinges on the exchanges being able to enroll enough young and healthy individuals to offset the cost of covering older and sicker patients, particularly those with pre-existing conditions.
Given that Americans with higher medical costs are more likely to endure an arduous enrollment process than healthier individuals, sustained technological problems could be devastating to the program.
Right now, there isn’t enough data available to say whether insurers are achieving the right mix of enrollees. In the past, administration officials have said that roughly 40 percent of the expected seven million enrollees need to be from the young and healthy demographic.
Heritage research also demonstrates why the Administration should be concerned about the law’s viability:
The Obama Administration is desperate for younger people to enroll to prevent an adverse selection death spiral. As pointed out by Sam Cappellanti at the American Action Forum, “The enrollment of these low cost young adults…is essential as they are required to subsidize the costs of insuring the elderly and chronically ill.” However, young adults face a penalty for not enrolling that is projected to be far less than the insurance coverage they could receive.
Our findings confirm that younger populations see larger percentage increases in premiums. A state that exhibits this clearly is Vermont, where the increase for 27-year-olds is 144 percent and the increase for 50-year-olds is still 60 percent, but far less. All states exhibit this relationship.
Even assuming a sufficient number of young, healthy people sign up on the Obamacare exchange website, Americans will still be harmed by this law. Many Americans are already seeing their premiums go up due to Obamacare regulations.
Yet, Pelosi is not going to relent on her quest to make Obamacare look like a great deal.
She praised her state of California for the state run exchange:
I’m very proud of my state of California, where it’s going great. And most of the states that have their state-run exchanges, it’s all going positively well.
According to Heritage research, Californians are already seeing their premiums go up. For 27-year-olds, premiums will increase 23.6 percent under Obamacare. Their average one-month health insurance premium in the non-group market would have been $174.00 before Obamacare. Through the Obamacare exchange, it will be an average $215.00 per month. 50-year-olds will see an average increase of 13.3 percent under Obamacare. A family of four will see their premiums increase 3.4 percent.
California is faring better than some other states, though, like Arizona, Arkansas, Georgia, Kansas, and Vermont, all of which will see more than 100 percent premium increases for young adults.
So much for all the Obamacare savings. For far too many Americans, premiums will be going up under Obamacare.
Politicians like Pelosi just don’t seem to care.