In a way the Obamacare rollout is proof markets – and naked self-interest – work.
In the past, a lot of older, sicker people have been unable to get health insurance. Or afford it if they could. Or have had to pay through the nose for it.
Now, according to the Wall Street Journal, the old and ill are fearlessly wading through the snafus of Obamacare.com and signing up.
Who’s not signing up? The young and healthy.
For years the old and ill have been trapped in a small insurance pool – made up of the old and ill.
One of the grand theories behind Obamacare was to create one big insurance pool (even including oligarchs like Congressmen) where everyone would buy health insurance. But the dirty little secret was, while getting out of the little pool they’d been trapped in and landing in the big pool was fine for older, sicker folks, it wasn’t likely to be fine at all for the young (or relatively young) and healthy.
They were looking at paying more.
And that appears to be what’s happening. The young pay more. And they aren’t signing up. The sick pay less and they are.
The Obama administration is prophesying a rush of younger people, signing up for Obamacare, is coming. Maybe so. Maybe not. But it’s hard to see youth happy either way.