Got a big tube of KY? Hope so.
Many Obamacare advocates attempt to refute these premium increases by pointing to Obamacare’s generous subsidy scheme. But as the Hoover Institution’s Daniel Kessler points out, “This argument is misleading. It fails to consider that the money for the subsidies has to come from somewhere. Although debt-financed transfer payments may make insurance look cheaper, they do not change its true social cost.”
Yep. Cost is cost, although some of it will be shifted. Shifting a cost does not avoid that cost; it merely changes on who it falls. Drop it on “the rich” (or the “businessowner”) and it immediately winds up back on you in the form of being laid off or not hired in the first place.
By the way, if you think you’re insulated from this because your employer “provides” your health insurance you’re wrong. This will result in, for the average person with a $50,000 family income, a real decrease in spendable family income of approximately $10,000/year — a rank 20% decrease.
Good luck folks — you’re going to need it.