Affordable Care Facts

We are finally starting to get some cold hard facts behind the Affordable Care Act and the “healthcare.gov” website … according to CNN Money:

Some 87% of the 5.4 million people who have signed up through healthcare.gov, which handled enrollment for 36 states, qualified for subsidies. The department is still gathering data for the 14 states and District of Columbia that ran their own exchanges, which attracted roughly another 2.6 million sign-ups.

This means that 4.7 million of “healthcare.gov” enrollees are getting subsidies. The average monthly subsidy provided to these 4.7 million enrollees is $264 ... versus the average premium that they paid after subsidy being $82. This means that just this partial piece of Obamacare is going to cost the American taxpayer $1.24 billion per month in the first year. And you might be shocked at how one qualifies for this largess (again from CNN Money):

Anyone earning up to 400% of the poverty line -- up to $45,960 for an individual and $94,200 for a family of four -- was eligible for a subsidy. The subsidies were pegged to the cost of the second-cheapest silver plan in one's area. People could choose from four coverage tiers ranging from the cheapest, bronze, to the most expensive, platinum.

Shhh! Don’t let this all get out … otherwise these Obamacare percentages are going to skyrocket … particularly after this fall’s elections when the employer mandates kick in … and tens of millions of employees lose their healthcare insurance. Even before this happens the Congressional Budget Office has estimated that the total cost of the Affordable Care Act subsidies this year will total $12 billion … see: CNN Money. Now we finally understand the logic behind the naming of this piece of wealth-distribution legislation.

It will be “affordable” to everyone but the U.S. taxpayer.