In a new video released by the American Action Forum, Doug Holtz-Eakin, president of the policy institute, details how the rising cost of premiums will cause more Millennials to opt out of the plan.
“How many of those Americans can the exchanges afford to lose?” Eakin asked.
According to the American Action Forum, if premiums rise by 10 percent, 83 percent of young Americans will continue to buy the healthcare. However, if premiums rise by 30 percent, the number of Millennials purchasing Obamacare drops substantially, with only 55 percent continuing to purchase the health insurance.
Young Americans instead will choose to pay the fine associated with not having the government-run program.
“As premiums go up, eventually it exceeds the price point and people stop buying,” Eakin said.
And premiums are expected to rise substantially more than 30 percent, with some reports claiming young Americans will see the cost of healthcare increase by as much as 189 percent.
Check out American Action Forum’s video below.