Fox: Obamacare Causing Skyrocketing Premiums for Families, Young Men

• October 3, 2013 7:07 pm


The rollout of Obamacare has resulted in well-publicized technical glitches and "a lot more hard feelings," Fox News reported Thursday.

Special Report news package reported on a woman, who appeared alongside President Obama as an example of people who would benefit from the law, who has been unable to sign up online. Others who got letters from their insurance carriers about what they will get, and how much they will pay, are unhappy.

Tom Gialanella, a health insurance customer, said his premiums would rise 61 percent, and a letter from his insurer said the current deductible for his family of five would double from $4,000 to $8,000 per year, even though it was the least expensive option under Obamacare. His additional payment of $550 per month would give him a plan that carries useless maternity and newborn care benefits for his family, which he and his wife, both nearly 60, are not looking to expand.

Young men also face huge premium increases. One study by the American Action Forum said a 30-year-old male would see about a 260 percent increase.

Often, they would be forced to buy more benefits than they would be willing to pay for, as a recent survey found.

"What about the subsidies in Obamacare, which are higher at lower incomes?" correspondent Jim Angle asked. "For any young person making more than $20,000 a year, insurance premiums not counting deductibles would cost more than paying the penalty."

That may turn off young people from signing up, a critical point because the administration is hoping to sign up enough young, healthy people to offset the costs for the older and less healthy. As Obamacare proponent Bill Clinton pointed out, it's the only way it will work.

"If not, the costs will soar," Angle said.

Published under: Obamacare