Biting the hand that helps feed the economy
New health insurance regulations discriminate on the basis of age. A 60-year-old pays twice that of a 40-year-old and three times more than a 20-year-old. However, there’s no discrimination for those with unhealthy habits. I’m 60, but that 20- or 40-year-old could be a smoker, drinker, drug user or someone who engages in risky activity.
Is it really OK to double health insurance cost for some so others gets it free or at a low cost. Who spends more money on dining out, purchasing major consumer items or traveling? Who buys more new cars or new or second homes?
What happens when consumers who drive a major portion of the economy take an additional $500 to $1,000 out of their monthly budget to spend on health insurance? I see firsthand people adjusting their budgets (buying that new or second home is now very low on the priority list). If they choose to continue carrying health insurance, money flowing into the economy will decrease and this will have a negative rippling affect.
What overall good is accomplished by forcing people who had health insurance to lose it or pay double, so those who didn’t have it now do? Increasing the cost of health insurance will have the same negative effect on the economy as if the price of gasoline was $6 per gallon. The cost of Obamacare is not going to be endured just by the “fortunate.”