4 Reasons That Young Adults Won't Sign Up for the Affordable Care Act

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    Mar 01, 2014 3:38 PM GMT
    The U.S. Department of Health and Human Services has released data showing that 55 percent of Americans who enrolled in plans under the Affordable Care Act (ACA) in the first three months were between the ages of 45 and 64. The report from January showed a whopping one-third of enrollees were aged 55 and older—people just shy of coverage under Medicare, and more likely to get sick or to have pre-existing health conditions. Only 24 percent of the 2.2 million who have signed up are between the ages of 18 and 34, well below the Obama administration's target of around 40 percent. A new study on the cost of insurance for young adults reveals why young adults may opt out of purchasing health insurance through the marketplace.

    1. Most young adults are in the "healthy majority"

    Adults aged 18 to 34 and without health problems are called "young invincibles" for a reason. According to a report by the Centers for Disease Control, less than a quarter of adults ages 18 to 29 said they visited an emergency room during a one-year period, and only 7 percent stayed overnight at the hospital. Just 4.2 percent of people in this age group report their heath to be fair or poor—meaning the remaining 95.8 percent claim that their health is good, very good or excellent. An additional 30 percent will not even see a doctor once in the year. This "healthy majority" who rarely access care have good reason to think twice before purchasing insurance.

    2. Being healthy doesn't entitle you to a big break on insurance costs

    Prior to the ACA, older and/or unhealthy adults could be charged more than five times what young, healthy adults were for health insurance premiums. The ACA limits this "age-rating" ratio to three—that is, older or unhealthy individuals can be charged only up to three times what the young and healthy pay. This is great news for those suffering from illness, because it means they will be able to get more affordable insurance that covers all of their health problems. Young invincibles, however, get the short end of the stick. One study estimates a median rate increase of 237 percent for young invincibles (without taking premium assistance into account).

    3. Emergencies don't necessarily cost less with insurance

    Many young invincibles wisely worry about going uninsured and risking massive bills following a trip to the emergency room. A recent study on insurance costs for young adults, however, predicts that being insured will cost upwards of $700 more for individuals who visit the ER. This is because most insurance plans require the policyholder to meet a deductible before benefits kick in. For this reason, the study estimates an uninsured young adult who visits the ER once in 2014 will pay $2,022 in annual out-of-pocket expenses. Meanwhile, an insured young adult will see a total 2014 bill of $2,791, including premiums and out-of-pocket expenses to cover the ER visit. This estimate takes into account the penalty that the uninsured will pay, as well as the cost of physician office visits throughout the year for both the insured and the uninsured.

    4. For the healthy majority, being uninsured is 5 times cheaper than being insured

    Assuming no major medical issues, foregoing insurance in 2014 will on average save young invincibles more than $1,000. Not only do the uninsured who visit the doctor spend less on these visits per year than their insured peers (an estimated $253 for the uninsured, as opposed to $517 for the insured), the penalty for being uninsured in 2014 is dwarfed by premium costs for the insured. While it is impossible to rule out the onset of certain conditions or an accident, young adults with the stomach for calculated risk are likely to opt for being uninsured—and therefore potentially saving thousands of dollars.

    http://abcnews.go.com/Business/top-reasons-young-adults-sign-affordable-care-act/story?id=22690267&singlePage=true
  • Posted by a hidden member.
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    Mar 01, 2014 5:17 PM GMT
    ACA is a multi-level, non transparent scam. As congresswoman Pelosi said, " We will have to pass it to see what's in it" ( A low point in our country's history) . The Supreme Court ruled that it is in fact a tax. Taxes are constitutional .Forcing folks to buy stuff is not.

    As a middle class, single, old man it will double my premiums so I have to do without insurance at this point or quit my job so I can afford it . As we heard two weeks ago ,Obama suggests I quit working.

    Staying healthy all these years and working to support myself are no longer "American Values " according to this very corrupt president.

    My daughters insurance thru her college was $80 a month. Insuring the young was never an issue . Now it is , and I have to forgo my insurance because it will double to $ 800/month under ACA so that she can continue in college. BTW $800/ month has a $2200 deductible so I'll have to pay for emergency room care anyway. So it sucks all around .
  • jock_1

    Posts: 1491

    Mar 01, 2014 7:11 PM GMT
    according to Scary Harry Reid you are both just lying.
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    Mar 01, 2014 7:22 PM GMT
    Draper said 3. Emergencies don't necessarily cost less with insurance

    Many young invincibles wisely worry about going uninsured and risking massive bills following a trip to the emergency room. A recent study on insurance costs for young adults, however, predicts that being insured will cost upwards of $700 more for individuals who visit the ER. This is because most insurance plans require the policyholder to meet a deductible before benefits kick in. For this reason, the study estimates an uninsured young adult who visits the ER once in 2014 will pay $2,022 in annual out-of-pocket expenses. Meanwhile, an insured young adult will see a total 2014 bill of $2,791, including premiums and out-of-pocket expenses to cover the ER visit. This estimate takes into account the penalty that the uninsured will pay, as well as the cost of physician office visits throughout the year for both the insured and the uninsured.

    First, the younger generation is NOT a motivated generation period. I know this because I have kids in that generation and know them and their friends. It's not surprising the numbers are low.

    As for the ER visits, I don't know where they're getting these numbers. I do have insurance and not the high end one either and I was just in the ER. 7 1/2 hours WITH my deductible, blood tests, x-ray, ultrasound AND CT scan my total bill was under $500. Maybe they saved by not serving me lunch but a $2,791 bill is BS! I don't buy it.

    Besides the savings with any insurance plan, whether the ACA or private insurance is that the ER is avoided in most cases because the preventative care catches inconsistencies before they're at the level of needing the ER.

    All the nay sayer will continue but none ever came up with a better solution.
  • wellwell

    Posts: 2265

    Mar 01, 2014 10:19 PM GMT
    jock_1 saidaccording to Scary Harry Reid you are both just lying.


    Yea, & Emperor Obama's sound-bite script/s (issued him by the global puppet masters) say about the same. Will the public ever get over their BrainWashing??

  • Mar 01, 2014 10:39 PM GMT
    I've been to a ER before from a car wreck. I had no insurance at the time and my bill was $3700, and all I've got it was a Tylenol, which was described as $50 for one pill. I had to pay right there at the moment for that. No X-rays or anything. Good thing I was not the one who paid the bill.
    With Obamacare, unless I have a $35000 or above on a doctor bill, I'm on the losing side.
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    Mar 01, 2014 11:31 PM GMT
    SubaruRetriever saidI've been to a ER before from a car wreck. I had no insurance at the time and my bill was $3700, and all I've got it was a Tylenol, which was described as $50 for one pill. I had to pay right there at the moment for that. No X-rays or anything. Good thing I was not the one who paid the bill.
    With Obamacare, unless I have a $35000 or above on a doctor bill, I'm on the losing side.


    I learned the hardway never to accept offer of medical treatment at an accident scene. They must offer it by law but you don't have to accept it.
  • Kalifornicati...

    Posts: 242

    Mar 02, 2014 8:15 AM GMT
    sunjbill saidYeah, wait until everyone who signed up for $150 a month premiums under ACA actually get sick and the $2,000 to $5,000 deductibles kick in, you'll hear "WTF" all over the country.

    PS - Just had to go find another primary physician because the one I was going to for years could not negotiate with Blue Cross new rates (due to all the changes) that would be worth it to him in any way to keep them as a plan participant in his practice, so he dropped them, so I had to drop him. And while I have a great plan at work, my deductibles also went way up this year so I was not going to keep him and go out of network. And so it goes.


    But if you're medical bill is $50,000 you would rather pay that?


    Hmm $2,000 vs $50,000 that could bankrupt most people