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Chapter 2 of Disinherited: Paying for Parents’ Health Care

March 15, 2017 | Diana Stancy

The Affordable Care Act (ACA) is proving to be affordable — but only to a select few. Once again, an act that was created for everyone is simultaneously hurting and benefiting Americans.

There are laws in place that prevent older Americans from paying more than a certain amount on healthcare. Thus, the younger members of society—mainly those under 30 are taking the brunt of what is unable to be paid legally by the elderly.

To put this in perspective, the average person under 30 spends less than $600 per a year on medical costs. Yet, the ACA’s silver plan’s average premium for a 27-year-old is $2,680 with an average deductible of $1,842.

The government has had to convince people to sign up for this plan. Premiums aren’t low enough to convince healthy people to sign up. In fact, in 2014 27-year-old males saw their premiums rise 91 percent, whereas the average 64 year old only saw a 34 percent increase.

Former Army officer Jason Church was injured during his service. Although he is not impacted by the ACA because he is covered by the Defense Department’s Tricare, he has witnesses the challenges other young adults are confronted with because of the ACA. He said:

“I personally would pay the penalty over paying more for insurance coverage I do not need, especially while the penalty is so low. I am sorry for those who have lost their current plans and are stuck shouldering the costs of ACA.”

In the cases of life insurance, auto insurance, and home insurance many companies offer many services and compete to try and get people’s business. But, with the ACA the government determines what will be offered and how it will be offered—acting differently than other insurances.

The basis for the ACA was explained quite differently from how it is executed, however. In 2010, the following statement was made from former Speaker of the House, Nancy Pelosi:

“We see [the ACA] as an entrepreneurial bill, a bill that says to someone, if you want to   be creative and be a musician or whatever, you can leave your work, focus on your talent, your skill, your passion, your aspirations, because you will have health care.”

The ACA is continuing to drive up the deficit—similar to that of social security, and it the future years it could continue to place a burden on the youngest people in society’s workforce.


Questions:

Is Universal health care realistic—why or why not? In other words, Did ObamaCare have the right idea but the wrong execution?

What do you think of Nancy Pelosi’s quote included above? Is it worrisome that we are defining entrepreneur that way? Why or why not?

As a young soon to be working professional or already working professional what concerns you about the direction of ObamaCare (ACA) right now?

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