Pay 41% More and Get Less From Obamacare
8th November 2013
The Manhattan Institute just published an analysis of the Obamacare individual policy insurance rates which demonstrates that the average cost will rise by 41% next year.
The results are very similar to the 2009 PriceWaterhouseCoopers analysis that predicted insurance rates would rise by 47%. The biggest hikes will hit the young people, whose rates will jump by an average of 98% for men and 58% for women. Insurance rates will also increase for everyone who is healthy and for all males.
Obamacare’s taxpayer-funded subsidies will primarily benefit those approaching retirement, despite substantially higher average net worth for that demographic compared to the young. But the real winners under Obamacare are huge insurance companies and HMOs whose stock prices have gone up twice as fast as the market, since Obamacare kills competition and creates monopolistic profits. National insurance companies are exempt from federal anti-trust supervision under Obamacare; whereas manufacturing, transportation and service companies are protected from “unfair” competition in the markets.
All hail the Magic Negro, who gave us less for more!