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Generation Opportunity president: Millennials smart to opt out of Obamacare

BY EVAN FEINBERG Published: October 2, 2013

In preparation for the rollout of the Affordable Care Act, the Obama administration took its message to college campuses like the University of Oklahoma to sign up as many students as possible. They've even brought on board Lady Gaga, Jennifer Hudson, Amy Poehler and other celebrities to help convince millennials that the exchanges are cool.

Apparently they think millennials are gullible. But no veneer of popularity can mask the exchange system's deep problems. The simple fact is that they're a bad deal for young people. As a result, it makes more financial sense for millennials to opt out and buy a non-Obamacare policy on the private market.

The most obvious problem with the exchange system is how it perversely takes from the young to subsidize the old. That's why the White House is so dead-set on getting young people to sign up — without our money, the exchanges will enter a “death spiral.”

What's missing in this political calculus is the realization that young people are the least able to afford health care. Student loan debt is sky-high and rising. Young people have a 16.1 percent unemployment rate. And yet Obamacare will increase their premiums by an average of 169 percent! That's beyond unaffordable.

My generation's concerns with Obamacare don't end with the costs. Another sticking point is the law's “Federal Data Services Hub.” This term is at best a euphemism; the Data Hub is an enormous database of every participant's private medical records, tax and financial info, legal history and other intimate information that we probably wouldn't want out in the open. It's basically an NSA-esque database of TMI — too much information.

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