ObamaCare's $20,000 Per Family Ticket Price will Wreck the Private Insurance Industry
CNS News reported today that the Internal Revenue Service expects every American family to pay a minimum of $20,000 per year for health insurance by 2016.
That figure represents almost half the US median income in 2011, of $50,054. And median income is trending downward, as the laughably dishonestly named Affordable Care Act aka ObamaCare pushes prices up to $20,000 per year.
It's not difficult to envision how this will play out. The upward pressure of insurance costs -- some families can expect 85% increases -- and the downward pressure of income will drive many Americans out of insurance altogether. Whey they need care, they can face a fine as high as $2,400. So many will opt out of insurance, knowing that they cannot be denied coverage for any pre-existing conditions under ObamaCare. They'll pay the fine and get insurance if they have to, otherwise they will end up having their health care picked up by the government.
Before long, government will be the only payer, as private insurance companies go bankrupt.
It's all part of the plan.