With estimates that the number of Americans actually able to sign up for health insurance under the ObamaCare exchanges being extremely low, the folks at The Heritage Foundation have produced a study that shows the cost of health insurance for those Americans lucky enough to navigate the ObamaCare website. Unfortunately, the results for most Americans are not so pretty.
Approximately 15.4 percent of Americans lack health insurance and, according to Heritage, health care prices won't be cheap under ObamaCare.
Heritage's research found that "for many states, the insurance on health exchanges will cost more than existing insurance." In fact, only five states will see an estimated decline in the cost of health insurance under the ObamaCare exchanges. Heritage explains that the five states will see a decline in their average health care costs only because, "those states had already over-regulated insurance markets that led to sharply higher premiums through adverse selection."
Instead, for most Americans, such relief will not come easily. Heritage estimates that a family of four in Virginia will see its health care costs rise 178% in the health exchanges - the highest of any state by more than 100%. Overall, the average American family of four will see their insurance premiums rise despite President Obama's claim that insurance premiums "will go down."
For the youth of America, health insurance premiums don't get much better under ObamaCare either.
Heritage estimates that the average 27 year-old will see his or her premiums rise under the ObamaCare exchanges, with states such as Virginia and Arkansas seeing premiums rise 252% and 171%, respectively.
Heritage's findings conclude that, "younger populations see larger percentage increases in premiums. A state that exhibits this clearly is Vermont, where the increase for 27-year-olds is 144 percent and the increase for 50-year-olds is still 60 percent, but far less. All states exhibit this relationship."
Such data should come as a shock to millions Americans who will see higher premiums under ObamaCare than they currently receive. ObamaCare relies on healthy young people to enter into the exchanges to offset the costs to insure older individuals, but young people aren't signing up, most likely because they will see their premiums rise by 62 percent. This study is a warning sign for millions of Americans who will receive an unpleasant surprise in the form of higher premiums thanks to ObamaCare.