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.
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.
Answer by grlygrlz2 at 9:26 AM on Mar. 31, 2010
Answer by itsmesteph11 at 9:31 AM on Mar. 31, 2010
Answer by LoriKeet at 9:45 AM on Mar. 31, 2010
Answer by mancosmomma at 9:50 AM on Mar. 31, 2010
Answer by grlygrlz2 at 10:32 AM on Mar. 31, 2010
Answer by Carpy at 10:32 AM on Mar. 31, 2010
Answer by Natesmom507 at 10:44 AM on Mar. 31, 2010
Answer by jewjewbee at 11:08 AM on Mar. 31, 2010
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.
Answer by Anonymous at 3:11 PM on Mar. 31, 2010