Can’t say no to Uncle Sam
Federal officials were crowing about Obamacare in December, noting that 6.4 million people have signed up for subsidized health insurance during this year’s enrollment period. That is 400,000 more than for the same period last year.
Despite higher premiums and far less choice in insurance programs, the figures “confirm that doomsday predictions about the marketplace are not bearing out,” maintained Health and Human Services Secretary Sylvia Burwell.
We’ll see next year. Numbers achieved thus far are only half the government’s target.
No one predicted the program would collapse due to low enrollment, in any event. That is because failure to obtain government-approved insurance can cost you as much as 1 percent of your income in penalties collected by the Internal Revenue Service.
So, no wonder many people sign up. They can’t afford to say no to Uncle Sam.