The administration insists most uninsured young people will be able to buy plans for less than $50 per month. Sounds great, right? The GAO offered statistics that show the catch. A non-smoking woman, age 30, buying the plan with the lowest possible premium in the state of Virginia would pay $564 per year, or $47 per month. Affordable! . . . Until you realize the deductible is $7,500. That’s how much she has to pay out of pocket before her insurance pays anything. Maybe in a terrible year, full of ailments, she’ll hit it in autumn.
And that’s a bargain compared to some other states. In Vermont, a 30-year-old non-smoking woman can find a plan with a monthly premium of just $56 per month! Except that the deductible is $100,000, according to the GAO report.
A smart young person would realize their best option would be to not get sick. An even smarter young person would realize their best option would be to play the odds and not get suckered into buying suckers’ insurance.