Tuesday, September 08, 2015

Unpaid Bills

What happens when you don't make your car payment? The repo man, or as a friend of mine says, the "take back" man, comes calling and you lose your ride.

So what happens when you don't pay your "fair share" of your Obamacare premiums?

The take back man revokes your health insurance.

First, let's look at enrollment numbers.  In March of this year CNN reported 16.4 million people had signed up for Obamacare health insurance plans.
About 16.4 million people have gained health insurance coverage since the Affordable Care Act became law nearly five years ago, according to government estimates released Monday.
The coverage gains have delivered the largest drop in the uninsured rate in four decades, bringing that rate down to 13.2% by the end of the first quarter of 2015
Call me skeptical, but this is like touting the latest unemployment rate of 5.1% while ignoring the 94 million people that are no longer in the labor force. According to US News the labor participation rate of 62% is the lowest in 38 years.

But how many of these 16.4 million people are paying their premiums? CNBC provides this insight.
The number of people covered by Obamacare plans nationally fell below 10 million at the beginning of this summer, but still was about 800,000 people above the official goal that federal officials have for the end of the year.
As of June 30, about 9.9 million people were paying for coverage they purchased through government-run Obamacare health insurance marketplaces, the federal government revealed Tuesday.
So 16 million covered but less than 10 million are paying premiums in spite of heavy subsidies.

And this is considered a success.

UPDATE: Co-blogger and compatriot Pat Paule points out that the 16M Obamacare enrollee figure includes off-exchange (non-subsidy) purchases. Even still, the number of people who are NOT paying their premium is indicative of another failed, wasteful government program.

#Obamacare    #Obamacarefail

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