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

George Will to Colbert: Liberals don't want change

Conservative commentator and hapless Chicago Cubs fan George Will swung by "The Colbert Report" Tuesday to plug his new book, "A Nice Little Place on the North Side," but naturally, the conversation didn't stick to baseball.

Clay Aiken: voters 'might wonder'

Former "American Idol" runner-up Clay Aiken concedes that voters "might wonder" about his candidacy for Congress for a new ad.

Los Angeles GOP #StandingWithSriracha

Forget #StandWithRand -- the GOP is now choosing to #StandWithSriracha.

WH responds to 'Deport Justin Bieber' petition

Despite the pleas of more than 270,000 Americans to deport Justin Bieber, the White House has chosen not to weigh in on the issue. However, the Obama administration did use a petition calling on the White House to revoke the pop artist's visa to plug President Barack Obama's plan for immigration reform.

Secret Service once threatened Mr. Met

Mr. Met sure has a lot of fans in New York. But the larger-than-life mascot definitely doesn't have one in the Secret Service, who threatened to shoot and kill him if he approached President Bill Clinton, according to a firsthand account.

White House

Donald Trump is really upset with the way Obama walks

President Barack Obama just can't seem to do anything right, especially in the eyes of real estate mogul Donald Trump.

Obama misses 67 percent of his shots playing basketball at Easter event

President Barack Obama went 1-for-3 shooting baskets at a White House Easter event Monday, prompting basketball scouts to question the leader of the free world's scoring ability ahead of this June's NBA Draft.

PETA is peeved with Michelle Obama and used little girls to tell her about it

First Lady Michelle Obama has earned the ire of three young girls. But they're not upset with her less-than-filling "Let's Move!" school lunches. Instead, these youngins are upset about the real eggs used in the White House Easter Egg Roll.

Jay Carney: “Never been a more transparent administration”

Despite consistent objections by journalists that the White House overly restricts press access, Press Secretary Jay Carney believes that there has "never been a more transparent administration."

Jay Carney: Toughest interview for Obama in 2012 was with Jon Stewart

Give comedian Jon Stewart a gold star sticker. The host of The Daily Show was President Barack Obama's toughest interviewer during the 2012 election cycle, White House Press Secretary Jay Carney said on Thursday.

Congress

Arkansas US Sen. John Boozman having surgery

LITTLE ROCK, Ark. (AP) — U.S. Sen. John Boozman is undergoing surgery at an Arkansas hospital.

Republicans are winning the Twitters this year

Congrats, Congressional Republicans -- you're winning the Twitters so far in 2014!

Rep Black: GOP budget makes a path to a bright future

Our nation is $17.4 trillion in debt and out of control Washington spending has no end in sight. In fact, the nonpartisan Congressional Budget Office estimates that on our current trajectory we will return to $1 trillion annual budget deficits by the year 2022.

Cruz: Impeach Holder

Sen. Ted Cruz (R-Texas) pulled no punches when criticizing Attorney General Eric Holder on Thursday, as he called on Congress to impeach the Department of Justice head.

Pelosi: GOP not acting on immigration because of race

House Minority Leader Nancy Pelosi (D-Calif.) pulled the race card when speaking about Republicans' inaction in passing comprehensive immigration reform and said "race has something to do" with the GOP not bringing such legislation to the House floor.