Care to guess who's on the hook?

Care to guess who's on the hook?  The insurance plans offered by the ObamaCare exchanges have a built-in assumption that lots of younger people will buy policies.  Those younger folks will be paying more than it actually costs the insurance companies, because they use relatively little medical care.  That excess will be used to (effectively) subsidize policies for older folks who use more medical care.

That scheme is an intentional feature of ObamaCare, a huge transfer of wealth from younger folks to older folks.  But it depends – it absolutely depends – on lots of young people signing up for policies.  But what if they don't sign up?  What if they choose to pay the fine tax instead?  Will the insurance companies be stuck with paying for all that medical care for older folks, without receiving the premiums from younger folks?  That's worth worrying about, because early indications are that young people are staying away from ObamaCare in droves.

Well, it turns out that the insurance companies are covered for this risk, by the “reinsurance” that's part of Obamacare.  The money for this comes from the government – which means us, the less-than-half of Americans who still pay income taxes.  We are on the hook.  Of course.

When I think of ObamaCare, I think of a giant steamroller with spiked rollers, bearing down on me relentlessly.  Continuing the analogy, there's some hope that its engine will break down, or that voters will blow it up – but meanwhile, it's chugging steadily toward me...and it doesn't look like any fun to be crushed beneath those rollers...