Friday, July 14, 2017

Obamacare death spiral

As Democrats continue to defend an obviously failed Obamacare system, the effects of soaring rates and collapsing coverage options seem to be taking a toll on the number of people actually buying health insurance these days. According to the "Gallup-Sharecare Well-Being Index," the percentage of uninsured adults in the U.S. bottomed out at 10.9% in Q4 2016 but has since increased to 11.7% in just the first two quarters of 2017.

For those keeping track, there are roughly 250 million adults in the United States. Therefore, a 0.8% increase in the uninsured rate implies that roughly 2 million people have decided they're simply not willing to continue absorbing Obamacare's exorbitant annual premium increases.

Not surprisingly, the biggest increases in the uninsured rate came from 18-34 year olds...you know, the people who don't really need coverage but were forced to subsidize older, sicker people because of Obama's view that "when you spread the wealth around it's good for everybody"...apparently they're no longer convinced that it was good for them.

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