So now we have some figures, and it seems that, sure enough, Obamacare is not attracting the number of Millennials that it needs to subsidize everyone else’s health insurance rates. From Fox New: “Administration lags on attracting young people to ObamaCare, stats show.”
The administration is lagging behind its goals for attracting young people to the ObamaCare exchanges, according to newly released statistics.
Of those who signed up for health insurance through the ObamaCare insurance exchanges, less than 25 percent are between 18 and 34 years old. Experts predicted that the program will need roughly 40 percent of enrollees to be in that prime demographic in order to be fiscally solvent.
Administration officials, though, were upbeat in describing the numbers. They said they’re in a “solid place,” and noted that this age group makes up just 26 percent of the general population.
About 1.8 million people enrolled in new individual health plans through the law in December, bringing the total number of new enrollments through Dec.28 to about 2.2 million.
Monday’s report is the first time the government has released demographic data on the performance of President Obama’s signature health care overhaul.
According to the new numbers released Monday by the U.S. Department of Health and Human Services, only 24 percent – or 489,460 – of the 2.2 million people who signed up for ACA were in the coveted 18-to-34 age range. That means the government has hit only 18 percent of its goal in the 18-34 age range.
For the system to work, 2.7 million young adults between the ages of 18 to 35 have to sign up.
The Administration can pretend to be positive, but if they need 2.7 million young adults, and they only have 2.2 million total, that it not going to work.
That’s the good news.
The bad news is, I’m more and more convinced, that none of the Democrats ever expected Obamacare to be “fiscally solvent” and have every intention of simply piling money onto it from tax payers.