Congressman Jim Moran (D-Va.), who’s not seeking a 13th term in office after his current term ends, told American University’s radio station Friday he doesn’t see a way for Obamacare to succeed if it continues to rely on human nature and market forces to meet its enrollment goals.
Moran candidly expressed concern that young people in the so-called “millennial generation” demographic will never voluntarily enroll for overpriced health care coverage as long as there remains no financial incentive to do so. Without an abundant enrollment of healthy, self-paying customers, there’s no way for insurers to benefit financially under Obamacare unless the government simply devises a way to bail them out.
“I’m afraid that the millennials, if you will, are less likely to sign up. I think they feel more independent, I think they feel a little more invulnerable than prior generations,” said Moran. “But I don’t think we’re going to get enough young people signing up to make this bill work as it was intended to financially.
“And, frankly, there’s some legitimacy to their concern because the government spends about $7 for the elderly for every $1 it spends on the young…I just don’t know how we’re going to do it frankly. If we had a solution I’d be telling the president right now.”