here's another way to look at that story
Meet the man who will make Obamacare fail
Written by David Freddoso. Posted in 2014 Campaigns
Published on October 04, 2013
 Butch Matthews and his wife Debbie, courtesy of Think Progress.
Over at Business Insider, Henry Blodget retells the story of Butch Matthews, a diehard Republican who tried Obamacare and liked it. The 61-year-old retired business owner from Arkansas was paying $1,069 per month for a catastrophic health plan. Now, he’s paying $0 for a very robust plan with only a $750 deductible.
And, surprise, surprise, Matthews likes getting his insurance at taxpayers’ expense. I have nothing but respect for him. Who could blame him? I’d take exactly the same deal if were available to me.
But it isn’t, and it can’t be. Like most people in their 30s, I still have to work for a living and generate an income well above the poverty level to provide for my family. That means I’m never getting a subsidy. I can’t live on income from previously earned wealth, as Matthews does — and that’s what gets him the full ride.
Here’s a bit more about him, from Think Progress:
“I do not work now, I’m 61, and we do have assets saved up. But still, to come up with that $1,069 per month….” he said, trailing off.
So Blodget misses the obvious here. If Obamacare becomes the new home of elderly free-riders with savings and no income who are just waiting to go on Medicare, then Republicans don’t need to shut down the government or do anything else to stop Obamacare — the program is completely doomed already.
For every person like Matthews who signs up for Obamacare, several young people need to sign up as well to balance out the risk to the insurers, lest future premiums rise unsustainably at taxpayers’ and income-earning health insurance customers’ expense. Young people won’t get a free ride like Matthews because nearly all of them have earned income to report. So far, we know their premiums will be much higher for young people in most states, and in many cases they’ll pay more than they would currently even after getting a subsidy.
Unless millions of young people volunteer themselves to pay premiums that have doubled or tripled from what was previously available to the young on the individual market, the program’s costs will spiral out of control precisely because of older (like Mr. Matthews) and sicker people who represent a large actuarial risk to the insurers. And that goes doubly for those getting a full ride on their health insurance.
- See more at: conservativeintel.com  |
