Report: Millions of Millennials better off avoiding Obamacare exchanges

Thanks, ObamacareMillions of young Americans between the ages of 18 and 34 would be better off paying the penalty for opting out of Obamacare than actually buying into the program, according to a new report released Thursday by the National Center for Public Policy Research.

The report notes that about six million “young invincibles” – single, childless Millennials – who are eligible for the healthcare exchanges will be forced to pay at least $500 annually for insurance that they don’t necessarily need.

A healthcare exchange, as outlined in the Patient Protection and Affordable Care Act, is an online marketplace for purchasing insurance set up by the government. Because younger Americans tend to get sick less often than older ones, the Obama administration has pushed young Americans to join the exchanges to keep them viable, even going so far as to recruit – or attempt to recruit – professional athletes and Hollywood A-listers.

“Millions of single, childless adults will save at least $500 by forgoing insurance and paying the fine in 2014,” David Hogberg, Ph.D., a senior fellow for health care policy at the National Center for Public Policy Research said in a press release. “The problem is that to be viable the exchanges need these ‘young invincibles’ to participate.”

The fine for 2014 is $95 or 1 percent of the individual’s income, whichever is higher.

Moreover, there is even less of an incentive to buy insurance through the exchanges because of a rule known as “guaranteed issue.” According to the rule, if someone gets sick they only have to wait until the end of the year to buy insurance.

“Many of these people are already uninsured, meaning they find little value in insurance,” Hogburg stated. “Why are they going to pay $500 to $1,000 for exchange insurance when it’s cheaper to go without and they face much less risk if they don’t purchase it?”

The NCPPR isn’t the only organization of late to note the steep financial impact that Obamacare will have on young adults. A report issued by the Government Accountability Office last month confirmed that insurance costs are going to rise for Millennials under Obamacare. Even the liberal organization ThinkProgress inadvertently admitted that Millennials will get “hung” by the law.

Comments

Polititainment

Waka Flocka Flame endorses Hillary

Just days after announcing his own candidacy for president in 2016, Waka Flocka Flame is endorsing Hillary Clinton for the White House. The Atlanta rapper said during a recent interview with MTV News that he will vote for Clinton in the 2016 presidential election.

Obama honors New England Patriots

President Obama honored the Super Bowl Champion football team on the South Lawn, kicking off his remarks with a joke about the team's long since past "Deflate Gate" controversy.

Olivia Wilde endorses Hillary Clinton

Actress Olivia Wilde is "excited" by Hillary Clinton's presidential campaign. The film star, who campaigned for then-Sen. Barack Obama in 2008, expressed her enthusiasm for the "political discussions" that result from election season during a recent interview with The Daily Beast.

Robert Downey Jr. walks out of interview

Robert Downey Jr. cut short a recent interview with British Channel 4 News reporter Krishnan Guru-Murthy when the journalist questioned the actor about a past statement regarding how being imprisoned impacted his political beliefs.

Christie does not like the fat jokes

Chris Christie went on Jimmy Fallon's show to inform him he does NOT appreciate all the fat jokes.

2016

Sen. Cornyn worried about Clinton transparency

On Jan. 20, 2009, the U.S. Senate was poised to nominate then-Senator Clinton as secretary of State by a unanimous consent vote, but Sen. Jon Cornyn (R-Tex.) objected, temporarily thwarting Clinton’s nomination.

Jeb Bush is on the Paleo diet

Jeb Bush is slimming down ahead of his likely 2016 bid for the White House. The former governor of Florida has lost about 30 pounds on the Paleo diet since December, according to a report in The New York Times.

NYT reporter: Hillary calls everything 'off-limits'

New York Times reporter Jeremy Peters said on MSNBC's "Morning Joe" Thursday that Hillary Clinton ahead of her run for president in 2016 is dismissing every critical report about her as illegitimate and "off-limits."

Seth Meyers defends Hillary Clinton

Seth Meyers defended Hillary Clinton during Thursday's episode of "Late Night," dismissing allegations about the former secretary of State that will be laid out by the forthcoming anti-Clinton book "Clinton Cash."

Rick Perry disagrees with Christie on pot

Rick Perry is against legalizing marijuana--but, unlike Chris Christie, wouldn't "crack down" on states that choose to legalize.

Policy

Obamacare brings growth in food stamp enrollment
CHICAGO (AP) — President Barack Obama’s health care law has had a surprising side effect: In some states, it appears to be enticing more Americans to apply for food stamps, even as the economy improves. New, streamlined application systems built for the health care overhaul are making it easier for people to enroll in government benefit […]
DC gets mad at Gowdy and Buck over gun photo

Reps Trey Gowdy (R-S.C.) and Ken Buck (R-Colo.) just dodged a run-in with the D.C. authorities.

The danger of policing through Facebook

These days, everything happens on social media--including solving crime.

Police seized 11-yr-old for defending legal pot

One Kansas school apparently found a child's earnest defense of marijuana legalization so threatening they called the police on his mother.

Support for Obamacare hits surprising high
Support for Obamacare has hit a two-year high, despite the tax season surprises that followed the law this year. According to a new Kaiser Health Tracking Poll released Tuesday, the percentage of people who say they support the healthcare law is greater than those who oppose it for the first time since the fall of 2012. […]