Thursday, January 2, 2014

The Year of ObamaCare--Here Comes the ObamaCare Tax Avalanche!

Canada Free Press, January 2, 2014

As of January 1,  ObamaCare is the law of the land. Or more accurately, those parts of ObamaCare that weren’t unilaterally changed or delayed to serve the interests of the Obama administration and the Democratic Party heading in the 2014 election.

Despite those efforts, it would appear that 2014 will bring no respite from the criticism associated with what might be best described as the biggest government boondoggle of all time. As the nation straddles the passage from the old year into the new, the hits just keep on coming.

The first hit concerns the exchanges themselves. As Forbes Magazine contributor Michael Cannon explains, ObamaCare enrollments remain a whopping 60 percent below the targets set by the Obama administration. Only 2.2 million Americans out of the 3.3 million envisioned by the administration have signed up, not paid up. That means the 2.2 million figure will eventually be lower, since no program has a 100 percent success rate in that regard. Thus the administration’s notion that they can meet their target of 7 million paying customers by March 31 (of which 2.7 million must be “young invincibles” to offset the costlier coverage for older, sicker Americans) looks like a pipe dream. Furthermore, since the 60 percent number is a national average, states with low enrollment totals will undoubtedly see a surge in premium costs by 2015.

No comments:

Post a Comment