The Washington Examiner has posed an extremely significant question: Will Obamacare help more people than it hurts, or will it hurt more people than it helps? The very fate of the law hinges on the answer to this question—and it’s not looking good.
According to a study by the Kaiser Family Foundation, about 29 million Americans could enter the Obamacare exchanges, whether out of desire or necessity. Of those 29 million, 17 million would be eligible for subsidies.
Broken down into percentage points, that’s 59 percent who would be eligible for taxpayer-assistance, versus 41 percent who are not. That’s not a very wide majority; and the subsidies look even worse once you realize that some of them aren’t worth much at all.
As calculated by the Kaiser Foundation’s online subsidy calculator, a family of four living in St. Louis, MO, with one parent earning $48,000 annually and another earning $37,000 annually, would qualify for a $13 per year subsidy—to help pay for an $8,088 premium.
The kids probably get an allowance greater than that.
So, of the 59 percent eligible for subsidies, it’s safe to say that not all of them will actually receive any substantial assistance. Therefore, it’s looking more and more likely that Obamacare will, in fact, hurt more people than it helps, or only help a few more than it hurts.
Oh, and this study doesn’t even include the people who may be forced to pay more to keep their employer-provided health insurance under Obamacare.
Obamacare is not beneficial for anyone, not even the elderly and sick. Hopefully it won’t be too late before Congress finally realizes it.