Congressman Jim Moran (D-Va.), a top House Democrat and strong supporter of Nancy Pelosi and President Obama, recently announced he would not seek a 13th term. Over the weekend he openly discussed his concerns over the possible failure of the Affordable Care Act as a result of a failure to sign up as many millennials as needed to fund the program.
The early numbers in Moran’s state of Virginia suggest that the 18-34 year-olds, which are key to funding of the ACA, are showing lower than projected interest. More than 40,000 Virginia residents signed up for health insurance through the federal exchange last month, of that only 27 percent were in the all important age bracket.
During an interview with WAMU 88.5, American University Radio, the retiring Moran said that he doesn’t “think we're going to get enough young people signing up to make this bill work as it was intended to financially."
The recently released national numbers reflect those of Virginia. The target is 2.7million millennials signed up by the end of March-currently there are just over 700,000. The projected enrollment was 7 million people, and 40 percent of that total needed to be in the 18-34 age group. The actual number is 24 percent nationally, far short of the needed numbers.
There is a strong likelihood that the number of millennials needed to fund the ACA as planned will not be achieved, and if that happens how will the program be funded? The risk of another government bailout looms unless steps are taken preemptively to block any such action.
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