A new poll by the American Action Forum reveals that, if President Barack Obama’s Patient Protection and Affordable Care Act — also known as Obamacare — ends up failing, the President will have simple market forces to thank.
That’s because young people, who typically incur lower healthcare costs as a demographic far less exposed to health risks than the elderly, are showing signs they won’t opt into any form of mandatory health coverage if the premiums they have to pay climb very far — as many insurance forecasters predict they will.
If premiums rise 30 percent, for example, only 55 percent of young people polled said they would choose to purchase health insurance. That’s a lot fewer than the 83 percent who said they’d still buy insurance if the cost under Obamacare rises “only” 10 percent.
And if premiums do rise, the regressive subsidy that the young demographic’s artificially inflated Obamacare premiums were supposed to inject into the States’ new insurance “exchange” programs will disappear. That, in turn, would drive up premiums for the diminished number of people who do buy insurance — a phenomenon that would hit the elderly especially hard.
As for the younger people who choose not to deflate other people’s premiums at the expense of their own insurance costs? According to the poll, they’ll just drop out and pay the mandatory penalty.