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5 Ways Obamacare rips off Millennials

Everyone in this country will soon be impacted by the over-reaching ill-conceived bill known derisively as Obamacare. Almost everyone will be negatively impacted, unless otherwise exempted. The two groups hurt the most are seniors and those between their twenties and thirties, Gen Y also known as Millennials. It is the latter group who will be asked to shoulder the greatest burden over their lifetimes.

Millennials and their health care needs as seen by insurance professsionals
Inforgraphic : Life Health Pro

To put it as plainly as possible, “you guys are so screwed!” Evan Feinberg, President of Generation Opportunity, agrees.

It passed as the Affordable Care Act (ACA) in 2010, all 2000 plus pages that no member of Congress had actually read before voting on it. The rationale behind the bill was that the 30 million people in the country without health insurance needed to be covered. Team Obama told us it was costing the country more to have the uninsured use hospital emergency rooms than if they had health insurance.

As we watch the number of people who will be hurt by this government-imposed tax inserting itself into one-sixth of our economy, it is easy to see why many now call Obamacare the Unaffordable Care Act (UCA). We are days away from the health exchanges opening up and incredibly 43% of Americans, mostly the low information voters, are unaware of the law that will profoundly change their lives and health care options.

Obamacare is so lousy that 2000 plus corporations have received exemptions; the AFL-CIO has called it a disaster that hurts millions of working Americans. Let us not forget that Congress is seeking exemptions for themselves and for their congressional staffs. To which I say, if Obamacare isn't good enough for the people responsible for passing this monstrosity, it isn't good enough for the rest of America and those upon whose shoulders the funding will be foisted.

Unbelievably, after all the political angst and furor 30 million will still be uninsured, this according to the Congressional Budget Office! Therein lies the difference between a reason and an excuse. Only the most naive believes Obamacare is about insuring Americans. It is about control.

There are multiple reasons why Obamacare is such a bad deal for Millennials. The top five reasons are:

  • The Imposed Burden – Millennials have been singled out to carry the burden of preventing the collapse of health exchanges. Put another way, as a group you are healthier and younger so you will pay more for your insurance, not less as it has always been in the past. Your payments will be used to offset the costs of Americans who are older and not as healthy. By lumping us all together in one pot, Grannies get to pay for your birth control and you get to pay for their wheel chairs.
  • Major Job killer – The unemployment rate for Millennials has been hovering around 16.1 percent for quite some time. As long as Obamacare is a reality, businesses of every size, big, small and everything in between will be holding back on hiring and cutting back on employee hours.
  • One of the unintentional consequences of Obamacare is the built-in incentive for employers to cut workers hours to 29 hours per week thus making them part-time employees. Employers of all sizes are responsible for offering health care to full time employees working at least 40 hours per week, not part time employees.
  • Another unintentional consequence of Obamacare is that it has found a way to keep small businesses small. As soon as a small business hires a fiftieth employee, the business must provide health care for all of its workers. The solution is simple if you are a businessperson, never hire a fiftieth person. This keeps the job pool smaller.
  • Careers Hurt – Now that Millennials are part of the largest part time employment economy as devised under Obama and Obamacare, it is time to recognize the long-term consequences on careers. Stories abound of overly qualified graduates unable to find a full time job of any kind. The absolute worst part of this is the longer it takes to find full time employment the greater the impact on your long term career and your earnings. Some employers may decide that the long term partially employed are less desirable than those lucky enough to have found a full time job in this down economy.
  • Sticker Shock – This is going to be a big one across the board for seniors, the middle class and Millennials. Depending upon which state you live in, the same coverage could cost as much as 300 percent more than what you are currently paying. Are you covered on your parents policy? That is great until age 26, however, if you aren't covered it, is projected that health care costs will nearly triple for you!
  • Creepiness Factor- If it wasn't bad enough, you can thank Obamacare for sticking its nose into your sex life. Regardless of your age, is there anyone who feels the number of sex partners you have is the government's business? According to the New York Post, be prepared to answer multiple questions concerning your private sexual behavior. New York cardiologist Dr. Adam Budzikowski says, “This is nasty business. The sex questions are insensitive, stupid and very intrusive.”

The great unanswered question remains how anyone in the government honestly thinks that 2.7 million Millennials, part of a generation graduating with incredible debt with access to too few full time jobs is supposed to shoulder these payments.

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