Wednesday, November 18, 2015

Why People Aren't Buying Obamacare

From Investor's Business Daily:
It's hard to imagine that the Democratic Party, which rails against income inequality, is prepared to tax away about 3% of pre-tax income from modest-wage earners unless they buy coverage which may be of little use to them. 
Consider the options for single 27-year-olds earning $24,000 a year, or just over 200% of the poverty level, who live in St. Louis. 
The cheapest coverage available is the lowest-cost bronze plan from Coventry, a division of Aetna (NYSE:AET), for $960. But 4% of income for someone of modest means is a lot to spend for a plan that won't cover much before the $6,850 deductible is met.