Saturday, February 2, 2013

Reaping What We Sow VI

Who couldn't have seen this coming?  Actually, I can think of quite a few people...
In a final regulation issued Wednesday, the Internal Revenue Service (IRS) assumed that under Obamacare the cheapest health insurance plan available in 2016 for a family will cost $20,000 for the year.
After being told by some of our brightest minds and talking heads that Obamacare would lower the cost of medical care for people, I bet a lot of people are surprised by the constant rising of costs.  I, for one, was shocked, shocked to discover the increases.  As I wrote about two weeks before the election:
Before anyone accuses me of raging paranoia, just keep in mind that no one who actually has business experience (unlike a certain occupant of 1600 Pennsylvania Avenue) would be dumb enough to increase demand while stagnating or even decreasing supply and expect to lower costs. And yet, that's precisely what the ACA does. And since we have the smartest man who has ever occupied the White House in office, he would never stoop to such an incompetent practice, right?
I go on to say that the only explanation then is a malicious intent on the part of the advocates and authors of the bill. Anyway, the original article continues on:
“The annual national average bronze plan premium for a family of 5 (2 adults, 3 children) is $20,000,” the regulation says.

Bronze will be the lowest tier health-insurance plan available under Obamacare--after Silver, Gold, and Platinum. Under the law, the penalty for not buying health insurance is supposed to be capped at either the annual average Bronze premium, 2.5 percent of taxable income, or $2,085.00 per family in 2016.
Even at present, it would be cheaper to just pay the fine and go see a for-cash doctor (called "concierge medicine" -- which I wrote about in piecemeal fashion) rather than pay for medical insurance. 

Remember, these people have our best interests at heart!

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