The young drop coverage to avoid higher premiums
The political travails of the Affordable
Care Act — aka Obamacare — continue, as witnessed by the furor surrounding Health and Human Services Secretary Kathleen Sebelius‘
attempts to solicit funds to pay for its implementation. Politics do
garner the bulk of the media attention, and the public may think that
partisan battles will determine the law’s future. A recent poll
sponsored by the American Action Forum, though, shows that the nuts and
bolts of consumer decision-making may be its real Achilles heel.At the heart of Obamacare is the goal of expanded health insurance coverage, and the law as originally passed envisioned coverage for an additional 30 million or so Americans. About one-half of these would purchase their insurance in the so-called “exchanges” — state-based marketplaces where approved coverage will be for sale for individuals and small businesses
to purchase. An elaborate system of government subsidies would assist
insurance for those making up to $89,000. Of course, as was settled by
the Supreme Court decision, those who do not purchase insurance will be subject to a penalty, or extra tax.
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