Some backers of Obamacare are even jumping ship completely. Kinsey Robinson, the president of the 22,000-member United Union of Roofers, issued a public statement last week calling for “repeal or complete reform of the Affordable Care Act.” He explained that his union’s “concerns over certain provisions in the ACA have not been addressed, or in some instances, [have been] totally ignored.” Many of the bill’s quickly drafted provisions, he added, “are inconsistent with the promise that those who were satisfied with their employer-sponsored coverage could keep it.”
The train wreck that Senator Baucus foresees could push young people into “rate shock” as their premiums increase to subsidize care for older Americans. Obamacare’s “community rating” rules and benefit mandates might prompt employers to drop coverage or avoid hiring new employees. “I talk with a lot of businesses that are thinking of self-insuring or finding any loophole they can to avoid the most onerous parts of Obamacare,” says pollster Scott Rasmussen. A study last month by the Society of Actuaries predicted that medical claims per policyholder will rise by 32 percent in the individual plans offered by Obamacare’s health-care exchanges. In some states, the increase could be as much as 80 percent.
The Obama administration is preparing for the worst. Michael Cannon of the Cato Institute reports that it is getting ready to spend $600 billion that Congress never authorized on federally run state exchanges in order to ease any sticker shock for consumers. But that may not be nearly enough.