Monday, July 01, 2013

Is There an App For That?

Obamacare needs people under 30, especially the healthy ones, to buy health insurance in droves if this master plan stands a chance of working. Without the under 30 crowd the rate structure will start to collapse.  

So why did Congress come up with a plan that increased rates on the under 30 crowd significantly more than those that are 50 and up?

Still waiting on a good answer to that one, along with a lot of other questions.
Less than 64% of employees under 30 working for large companies sign up for health insurance when it is offered by their employer, compared with at least 76% of all employees over 30, according to a new report by benefits administrator ADP. And Americans ages 18 to 34 are the least likely of any age group to be insured:

I see no reason why Obamacare rates and benefits is going to change any of this, and the nominal penalties (greater of 1% of income or $95) certainly won't strike fear in the hearts of these young "adults".
As much as 70% of a company’s workforce doesn’t use any health coverage at all in a year, Ryan says, but insurance plans still need their contributions to pay for those who use more.
Not surprising.

Stats similar to this have been around for a long time. Which of course leads to the argument, "Why should I pay for something I never use?".

Anyone who has been around a while can answer that, but trying to tell the young, invincible crowd they need to buy health insurance is an uphill battle.

Not my "yob", man.
blog comments powered by Disqus