According to a recent report from the Department of Health and Human Services, only 2.2 million people have actually signed up for the ‘Affordable Care Act’, commonly known as ObamaCare but there were 44.5 million who either called or visited state and federal websites. I’m trying to resist the temptation to call the HHS to let them know I went to a shopping mall last week but I didn’t have enough money to buy anything, but since I at least shopped, the economy should be better now!
The administration is lagging behind its goals for attracting young people to the ObamaCare exchanges according to the newly released statistics. Of those signed up, (and I’m still not sure what qualifies as a ‘sign-up’), less than 25 percent are between 18 and 34 years old. Experts predict that the program needs roughly 40 percent of enrollees to be in that prime demographic in order for the health plan to be fiscally solvent.
Administration officials were still upbeat in describing the numbers. They said they’re in a “solid place,” and noted that this age group makes up just 26 percent of the general population. Monday’s report is the first time the government has released demographic data on the performance of the health care overhaul and now we have a new number where we haven’t any idea what qualifies to reach this new goal of ‘solid place’. What percentage point is ‘solid place’, and just as with previous numbers, are those shopping basket plans or are they committed, paid for plans that are putting us in this ‘solid place’?
According to the new numbers released Monday by the department, only 24 percent, or 528.000, of the 2.2 million people who signed up for ACA were in the coveted 18-to-34 range. ObamaCare needs young healthy adults to sign up in coming months to help offset costs from the older and less healthy enrollees and if that doesn’t happen, insurers would be forced to raise rates further increasing the costs and placing the future of ObamaCare in a state of uncertainty. In the meantime, insurance companies have said they may want to take advantage of the “risk pool” provision which involves the federal government covering 80 percent of any losses associated with an older and unhealthier base of customers.
Simply spoken, that means more of your money going to the government to cover the insurance companies losses to cover the presidents ill-advised health care plan.
