Tuesday, November 5, 2013

Wasted on the young

Kids! What's the matter with kids today? Not letting themselves get ripped off by Barack Obama, it seems;
Insurers say the early buyers of health coverage on the nation's troubled new websites are older than expected so far, raising early concerns about the economics of the insurance marketplaces.
If the trend continues, an older, more expensive set of customers could drive up prices for everyone, the insurers say, by forcing them to spread their costs around.
Maybe, since it needed a law mandating that people buy it, the politicians behind Obamacare knew this all along?
The average enrollee age at Priority Health, a Michigan insurer, has ticked up to age 51 for newcomers, from about 41 years old for plans offered for the current year, said Joan Budden, chief marketing officer. Arise Health Plan, Wisconsin's largest nonprofit insurer, said more than half its 150 signees are over 50, a higher proportion than expected, while declining to be specific on its target age.
Those are sold on the Federal exchanges, but it's the same with the state exchanges;
In states that are running their own marketplaces and have seen smoother rollouts, officials are now also reporting a similar phenomenon, suggesting the economics of the law play a role, too. In Connecticut and Kentucky, which have enrolled more than 4,000 people each in private health plans so far, the largest segments of enrollees in new commercial health-law plans are over age 55, much older than industry actuaries say they had anticipated. 
As you can't, it's said, fool Mother Nature, neither can you fool the Laws of Supply and Demand. Even when the President of the United States brazenly lies on your behalf.

[Bold in the above by HSIB]

No comments:

Post a Comment