According to a FOX Business report, most of those who signed up for Obamacare are contributing to a "death spiral" in the healthcare insurance industry that will leave middle-class taxpayers on the hook.
How so? Those who signed up--however many there really were--were sicker and older than the average demographic used by Obamacare planners to demonstrate its viability.
Recent data from Express Scripts--a pharmacy benefit management service--indicates that:
- 6 of the top 10 costliest medications ACA enrollees used were specialty drugs, compared to only 4 of the 10 most expensive medications used by patients in commercial plans;
- enrollees used 35% more pain medication when compared to commercial plans;
- enrollees used 14% more antidepressant medication than in commercial plans;
- 6+ of every 1k prescriptions written for Obamacare patients were for HIV medications, 400% more than commercial health plans.
Interestingly, the proportion of contraceptives among Obamacare enrollees was 31% lower. Remember Sandra Fluke? Wasn't Obamacare sold on the premise that every American woman would have free contraceptives and abortion services?
Yes, that is true. But, at the same time, those data provide insight into who's really signing up: The sick and elderly, not the "young invincibles" (18 to 34 years of age) who were are supposed to pay healthcare premiums that would make Obamacare work. If data reported by the Department of Health and Human Services are to be believed, 25% of the 4.2 million enrollees who signed up during the second half of the enrollment period which expired on March 31 were young invincibles. That's not nearly enough to make Obamacare work.
To no one's surprise, insurers and policy experts are now predicting double-digit healthcare insurance premium hikes in 2015, which will incentivize more people to sign up for Obamacare. In turn, the U.S. healthcare insurance industry will continue along its death spiral until a single-payer system (read: "government monopoly") takes over. Then, it will be the average taxpayer will will pay for that unresponsive, socialist, and bureaucratic behemoth.
But, wasn't that President Obama's goal from the beginning?
Let the discussion begin...
To read the FOX Business report, click on the following link:
"Report: Early ACA Enrollees Were Sicker Than Average."