According to Obama, Obamacare is a right:
“So I’m going to keep doing everything in my power to make sure this law works as it’s supposed to,” he said. “Because in the United States of America, health insurance isn’t a privilege — it is your right. And we’re going to keep it that way.”
Funny. Didn’t see “healthcare”anywhere in the Constitution.
In other Obamacare news, over 30 million will continue to be uninsured – forever:
In fact, the CBO projects that under Obamacare over the next decade, the number of uninsured will never fall below 30 million. Here are the year-by-year projections from the report:
2013 – 55,000,000
2014 – 44,000,000
2015 – 37,000,000
2016 – 31,000,000
2017 – 30,000,000
2018 – 30,000,000
2019 – 30,000,000
2020 – 30,000,000
2021 – 31,000,000
2022 – 31,000,000
2023 – 31,000,000
Despite Obamacare’s mix of requirements, mandates, subsidies, and penalties, the CBO projects that the law will never be able to decrease the number of uninsured below 11 percent of the population. During the decade projected by the CBO, the percentage of uninsured nonelderly persons decreases from 20 percent in 2013 to 11 percent by 2016, but then remains there for the rest of the ten year period. Not everything in the CBO report is similarly static, however. The “Average Exchange Subsidy per Subsidized Enrollee” increases 50 percent over the same time period, rising from $5,290 in 2014 to $7,900 in 2023.
The people who get screwed, the under 30 set, are better off paying the fine under the law – but the government needs their money to pay for other people. For you youngsters, that is called redistribution:
Now, the Congressional Budget Office is out with new numbers showing an additional two million people will opt to pay the fine instead of purchasing healthcare. This brings to total number of people to six million.
Under the law, Americans must be insured starting in 2014 or pay a penalty assessed on their tax returns.
Shortly after the legislation passed in 2010, the Congressional Budget Office, working alongside the Joint Committee on Taxation, estimated that in 2016 roughly four million people a year would opt to pay the penalty instead of getting coverage. On Wednesday, the CBO and JCT revised that figure up to six million, citing legislation passed since 2010 as well as the weaker economic outlook.
Of those people who opt for the penalty, 10% are projected to be below the federal poverty level for 2016, which the CBO and JCT estimate will stand at about $12,000 for an individual or $24,600 for a family of four.
In 2014, the penalty will be no more than $285 per family, or 1% of income, whichever is greater. In 2015, the cap rises to $975, or 2% of income. And by 2016, it reaches $2,085 per family, or 2.5% of income, whichever is greater.
The dollar amounts for a single adult would be $95, $325 and $695 during that same time period.
But these aren’t just individuals choosing to simply pay the fine instead of purchasing insurance, employers across the country are choosing to pay the fine instead of providing employer based health insurance because it’s cheaper under the new ObamaCare system.
Democrats. Getting it wrong for over 100 years.