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Obamacare costs the young

Discussion in 'Political Debate & Discussion' started by Winman, Apr 1, 2010.

  1. Winman

    Winman Active Member

    Jul 8, 2009
    Likes Received:
    I was reading an article in the newspaper a few days ago, it said that on average health insurance companies charge senior citizens between six to seven times as much as people under thirty. Now, this makes perfect sense as young people tend to be much healthier and require much less services.

    However, under this new bill seniors cannot be charged more than three times what young people are charged. This got me to thinking and I did a little math.

    Let's say an insurance company has to pay out $1000 in healthcare claims. At the present ratio (I will use 6 to 1 which is the lesser of the two amounts)

    $1000 divided by 7 equals roughly $143. So right now at the current 6 to 1 ratio, the insurance companies would charge the young people (under 30) $143, and the older insureds would pay $857.

    Now, this is not really accurate as you have the group between 30-65 paying into the pool as well. But it is accurate as far as the ratios are concerned.

    Now, under Obamacare the seniors can only pay three times what the young people pay. So now you have $1000 divided by 4 which equals $250.

    So under this new plan the young people will pay $250 which is an increase of 175% in premiums, while the seniors will only pay $750 which is a decrease of roughly 12%.

    A great proportion of the "uninsured" the Democrats especially made so much fuss over were young people who voluntarily chose not to carry insurance. But no more, they will be required by law to purchase insurance.

    Anyway, the young people came out heavily in this last election which is rare, and overwhelmingly supported Obama. I am just wondering what they are going to think when those who were carrying insurance see a big spike in their premiums, and those who were not carrying insurance are not forced to purchase it.