Wednesday, July 31, 2013
The rates won’t be finalized until Sept. 1, and those who purchase coverage through the exchange can qualify for tax credits to offset some of those costs. But for those working part-time and temporary jobs to get by, and for the young and healthy, even subsidized premiums will be unaffordable. They’ll pay the penalty tax and remain uninsured.
Last month, researchers from Harvard University and the City University of New York estimated that about 300,000 Nevadans will remain uninsured after ObamaCare takes effect, a figure that matches the state’s own projections. Nationally, the researchers estimate that about 30 million Americans will decline coverage.
Such a lack of participation would send premiums even higher and collapse the exchanges. This design flaw is one reason why the federal government is spending $700 million marketing ObamaCare to persuade Americans to sign up. It won’t work. There’s no sweetening this lemon.