Young men will be the biggest losers in the transition to Obamacare, according to a new report by the actuarial and consulting firm Milliman. The report estimates that males as a whole will see an 11 percent increase in insurance premiums, while females as a whole will see a nine percent decrease. Men under 40 will face insurance hikes of 18 to 31 percent; females under 40 will benefit from 13 to 19 percent decreases.
But here’s the real kicker: premiums for young men ages 25-36 could increase by more than 50 percent, and females 25-29 will face a 4 percent increase. In other words, if you’re young, you lose. If you’re a man, you lose. If you’re a young man, you really lose.
Recent news about Obamacare premium costs has tended to focus on whether the premiums will go up or down on average. What this data shows is that these broader national or state averages hide scarier changes in the group-by-group breakdowns. Young people are already the hardest hit by the recession and by the plethora of other entitlement programs that subsidize the boomers. Young men, in particular, are especially hurt by some of the country’s current economic shifts. Passing a law that forces them to shoulder an even greater economic burden and then spending tons of money to convince them to sign up for this raw deal is both cruel and irresponsible.