Obamacare’s Stunning Redistribution of Wealth

[Geee]

Front Page Magazine:

For all the attention Obamacare has drawn in recent weeks, few observers have noted that the law is having the unexpected, yet most welcome, effect of transforming scores of millions of Americans, virtually overnight, into generous benefactors of the less fortunate. A real-world example—representative of countless millions of similar situations—will make this crystal clear:

 

Let’s say that you are a healthy, hardworking 54-year-old single adult in San Francisco earning $45,960 per year—the income level at which federal Obamacare subsidies from your fellow taxpayers are no longer available to help you pay your monthly health-insurance premiums. As a San Francisco resident, you are permitted to choose from among 16 separate Obamacare-compliant insurance plans. Four of these are so-called “Bronze” plans, low-level policies whose average premium will cost you $453 per month, or $5,436 per year. In exchange for those premium payments, a Bronze plan will cover 60% of your medical expenses—that is, after you meet the $5,000 out-of-pocket annual deductible. For this priceless peace of mind, you can thank Obamacare—the Democratic Party’s gift to a grateful America.