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Young adults will see a 17% increase in premiums under ObamaCare. Thoughts?

Under the health care overhaul, young adults who buy their own insurance will carry a heavier burden of the medical costs of older Americans — a shift expected to raise insurance premiums for young people when the plan takes full effect.
Beginning in 2014, most Americans will be required to buy insurance or pay a tax penalty. That’s when premiums for young adults seeking coverage on the individual market would likely climb by 17 percent on average, or roughly $42 a month, according to an analysis of the plan conducted for The Associated Press. The analysis did not factor in tax credits to help offset the increase.
The higher costs will pinch many people in their 20s and early 30s who are struggling to start or advance their careers with the highest unemployment rate in 26 years.

Answer Question
 
grlygrlz2

Asked by grlygrlz2 at 9:25 AM on Mar. 31, 2010 in Politics & Current Events

Level 39 (106,530 Credits)
Answers (14)
  • Insurers typically charge six or seven times as much to older customers as to younger ones in states with no restrictions. The new law limits the ratio to 3-to-1, meaning a 50-year-old could be charged only three times as much as a 20-year-old.


    The rest will be shouldered by young people in the form of higher premiums.

    grlygrlz2

    Answer by grlygrlz2 at 9:26 AM on Mar. 31, 2010

  • How young are we talking? Remember these young adults can now stay on Daddy's insurance till 26
    I'm more worried about the rest of us.
    If they will raise prices for the young adults then how much do you thing they will raise mom and dads insurance with a young adult attached?
    itsmesteph11

    Answer by itsmesteph11 at 9:31 AM on Mar. 31, 2010

  • As NOT at all surprising as this is...I think it's called karma...since this is the age group that primarily voted for Obama!!!!
    LoriKeet

    Answer by LoriKeet at 9:45 AM on Mar. 31, 2010

  • That particular demographic are the people least likely to buy insurance or even feel the need for insurance. I'm guessing they will prefer to pay the fine than purchase insurance.
    mancosmomma

    Answer by mancosmomma at 9:50 AM on Mar. 31, 2010

  • LokisMama, then you must not have read the Healthcare Bill!!!! ;o)
    grlygrlz2

    Answer by grlygrlz2 at 10:32 AM on Mar. 31, 2010

  • lol LoriKeet. I happen to agree.
    Carpy

    Answer by Carpy at 10:32 AM on Mar. 31, 2010

  • LoriKeet,

    I agree with you.

    There getting there hope and change and it is now backfiring on them. There going to get a lot more of it and I'm just going to set back and laugh..
    Natesmom507

    Answer by Natesmom507 at 10:44 AM on Mar. 31, 2010

  • I agree with Lori.
    Let them pay, and pay and pay.
    jewjewbee

    Answer by jewjewbee at 11:08 AM on Mar. 31, 2010

  • Is this what they call Karma? Although, my dd's who are 19 & 21 have their OWN insurance. The one who could vote in '08, well, she didn't sign on for this. I feel bad that they are going to have to pay for their peers mistake, though.
    29again

    Answer by 29again at 11:29 AM on Mar. 31, 2010

  • Lol...it's $42 a month. If they are so poor they can't afford that, they would probably qualify for Medicaid anyway.

    Anonymous

    Answer by Anonymous at 3:11 PM on Mar. 31, 2010

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