Obamacare surprise: Young people want coverage
Most adults under 30 clamor for health insurance, according to a new survey. They're still iffy about the new mandate, though.
Despite the National Review's claim that America's young people would sink the Affordable Care Act with their presumed immortality and belief that illness doesn't apply to them, it turns out that graying columnists aren't all that hip to what the kids are into these days.
A survey of 1,505 people conducted by the Henry J. Kaiser Family Foundation found that, among people aged 18 to 25, 77% said having health insurance was personally important to them and 76% said it was something they needed. A full 65% were worried about paying medical bills from an accident or illness, while 76% say insurance is worth the cost.
While those percentages were still lower than the 87% of people of all ages who felt insurance was important and 88% who cited it as a need, they were only marginally different than the responses of people ages 26 to 30.
"While young adults are sometime described as viewing themselves as 'young invincibles,' the poll findings indicate that many young adults worry about affording medical bills, particularly catastrophic ones," the report says.
Those same young Americans would also benefit most from tax credits that offset the cost of insurance to people earning up to four times the federal poverty level, or $45,960 for a single person this year. According to consulting firm Avalere Health, about two-thirds of people younger than 30 would qualify for those subsidies.
They're also the demographic that would qualify for bare-bones insurance that was cheap even before so-called Obamacare, but will likely pay more under a mandated set of benefits that prohibits exclusion of pre-existing conditions. While they may like the idea of insurance coverage, they're also living in a country that's generally skeptical of the Affordable Care Act's coverage.
Critics who say it goes too far and those who think it doesn't go far enough have combined to make up 43% of the people Kaiser surveyed who said they had an unfavorable view of the health care mandate. Only 35% said they viewed it favorably.
So, no, young people don't think they're invincible. They're just not so sure anyone's working to keep them healthier and safer, either.
turn 27 and have to pay for it if they think it's affordable!
They want the insurance, but are they willing and able to pay the cost?
They were asked if they wanted it, were they also asked if they would buy it at the price it will cost?
I did some math and quickly determined that the Individual Mandate part of Obamacare is unsustainable and will fail within 5 years.
Age of person buying indiividual policy in CA - 55 years.
Monthly income - $7500 before taxes
Year 1 monthly premium $586
Combined tax rate - 30%
Annual rise in premiums - 15% (below historical averages - assuming some cost savings)
Annual increase in monthly pay - 2% (rough average over past 5 years)
In Year 1 the person will pay 11% of takehome pay for premiums. This does not include deductibles and co-pays if they require medical care.
In Year 5 it jumps to 20%.
In Year 10 it jumps to 37%
For monthly income at year 1 of $5000 year 5 premium jumps to 30% of take home pay. And at Year 10 it is 56% of take home pay.
With these kinds of numbers I can't see many middle income people affording to purchase individual coverage under Obamacare. Many millions of Americans will remain uninsured, regardless of penalties imposed by the IRS.
I WANT a Bentley, Ferrari, yacht, home in Bermuda, billion $ portfolio. This is the sillest view of healthcare I have ever seen.
I want people to live forever. Fat chance.
Kaiser must be one of those companies that Kathleen Sibelius extorted donations from to present this absuridity.
This is a dumb article. Young people want health coverage. No surprise there. They don't trust Obama or the new mandated policies and insurance. No surpirse there, either.
I do like the way the author wrote the headline to appear as if young people specifically wanted Obamacare. (as if they have any choice). Then stated that they're unsure about it. Liberal media... equals nothing but increasing propaganda and veiled truths.
This article is about young adults right? I thought that, per Barry Obama-Care, the young adults get to be kept on Mommy's insurance until they turned 26 (at Mommy's expense). So young, as used in this article must be middle aged right?
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You don't have to sign up for Medicare. The catch? If you don't enroll when you're first eligible, you could pay some serious financial penalties later in life.
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