All Americans will soon find their insurance premiums rising as a result of the bill. The young, uninsured will not buy policies. Why should they? Why not just pay the $750 fine each year? Why pay between 2 percent and 10 percent of their household income before subsidies kick in? It makes no financial sense for anyone making more than $30,000 to pay for coverage. (And most of those under that threshold will be covered by Medicaid, not by private insurance.)
There is no reason for the young to buy private insurance. The legislation requires that health insurers take all comers and not raise rates based on pre-existing conditions. So the young can get coverage when they need it, having only paid $750 per year beforehand.
The difference in cost will, of course, be borne by families throughout America, who will see their health insurance premiums increase. President Obama and his Democratic rubber stamps may appreciate that they are not raising taxes on the middle class, just raising mandatory health insurance premiums, but the distinction is likely to be lost on swing voters.
From now on, any increase in health insurance premiums will become the political responsibility of the Obama administration. As Gen. Colin Powell once said of Iraq, "You break it, you own it." Since these premiums have been rising by an average of 10 percent per year for more than the past decade, this is a legacy most politicians would sensibly avoid if they could.