Hispanic-Americans will be hard pressed to keep any resolutions they may have made this year to save money — and many have Obamacare, also known as Affordable Care Act, to thank for that.
Many Hispanics will bear the brunt of Obamacare’s financial reliance on the young and healthy to finance the law. Why? Because the median age for Hispanics is only 27, a full 10 years younger than the national average. And 28 percent of Hispanics are classified as Millennials, making them the youngest and fastest-growing demographic in the United States.
In Florida, we comprise about 23.2 percent of the population. But Obamacare is saddling my generation with an average 169 percent increase in our health insurance premiums.
As more Hispanics continue on to obtain higher education — 69 percent of Hispanics graduating in 2012 went on to college — Obamacare is making an impact at campuses all over the country.
It’s driving up the cost of premiums and causing colleges to cancel the affordable policies they traditionally made available to their students. At Bowie State University in Maryland, for example, Obamacare increased insurance premiums by 1,500 percent. Students who originally paid $54 would have ended up paying $900 per semester.