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New data tables reveal cost of Obamacare premiums

Posted: October 25, 2013 |  Comments



(http://market-ticker.org/akcs-www?post=225369)The Obamacare website, Healthcare.gov, has a new, actually useful, feature. The federal government recently released a data table displaying all 78,437 records for the different cost options of each county and state under the Obamacare exchange program.

Writing for market-ticker.org, Karl Denninger analyzed the data tables and brought up several interesting statistical facts.

"First, if you're '27', the average premium is $266.20/month or $3,194.40 per year," he wrote. This is especially distressing considering the fact that the average 27-year-old doesn't have an extra $3,200 in disposable income to spend; as it is, many of them are already struggling to cover mandatory expenses such as food and shelter.

Even worse than that, the "'average' 50 year old premium, again, for single coverage, is $452.87, or $5,434.44/year," Denninger reported. These prices are likely a better improvement for the 50-year-olds than what the 27-year-olds are getting, especially for those who already have illnesses.

Smokers' premiums are drastically surcharged at a reported rate of 1.5 times that of non-smoker premiums. At least that might convince people to switch to healthier habits.

Parents should be worried too, as Denninger writes, "If you are a single parent with kids (rather common) the premium on average is $610.23/month or about $7,300, and if you're a couple it's $647.86 (again, $7,774 annually.)"

Some people will receive tax credits to offset the new expenses; however, this doesn't actually make the price decrease, it simply means that the federal government will cover part of the cost, with tax money collected from you and your neighbors.

Again, these prices are for "average 50-year-olds," those over 50 will have to pay much more for each year of age. Reports show that couples who are 59 could be faced with bills in the area of $15,000.

These deals may be great for sick people, but they certainly screw over young, healthy, hard working Americans. Someone who has an expensive health condition might be ecstatic about the idea of paying $3,200 a year and getting $30,000 or more in treatment costs, but it is hardly fair to the people paying that amount or more and receiving nothing in return.

That is another major downfall to Obamacare: it relies on forcing young people to sign up and give away their wage slave earnings for false medical security, or else be threatened and fined by the IRS. If the people that don't benefit from this wealth redistribution policy refuse to pay into it, the system would collapse on itself.

Finally, it should be remembered that even though your government is going to force you to pay hundreds or thousands more dollars than necessary, you don't even get to choose how that exorbitant amount is spent. It will be spent in the conventional medical sick care industry. It won't help you or any health-conscious individuals save money on preventative medicine, nutritional supplements or functional foods, products that are saving peoples' health and actually reducing the financial burden on the medical system. That, in contrast to the popular saying, is like having your cake taken away from you and then eaten by someone else.

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