Should generally poor young people be subsidizing often wealthy old people? That’s what happens in our present crony capitalist system.
Here’s an interesting bit of news from Mary Katharine Ham of hotair.com, (12/11/12). Speaking of new regulations for Obamacare, she writes:
….Guess who’s likely to be hardest hit? Young people, take your medicine:
The newly announced rules limit insurers to charge their oldest customers no more than three times as much as younger ones. …Based on estimates by international management consulting firm Oliver Wyman, the rule will force insurers to hike rates for 18- to 24-year-olds by 45 percent even as rates for those 60 and older drop by 13 percent in most states. That means a 22-year-old waitress paying $2,068 for her health insurance will have to fork over $3,000 when Obamacare takes effect. And these figures even underestimate the actual impact.