Posted on 03/29/2010 1:47:10 PM PDT by RobinMasters
CHICAGO (AP) - Health insurance premiums for young adults are expected to rise about 17 percent once they're required to buy insurance four years from now. That estimate is from an analysis by Rand Health. Young people will need to carry more of the burden of health care under the new health overhaul law. The new law limits an industry practice of charging older customers more.
Even so, the pluses could outweigh the minuses. Some 2 million people under age 26 should qualify for coverage under their parents' health plans. And Medicaid expansion will insure 9 million more young adults.
(Excerpt) Read more at breitbart.com ...
Ping
Well they have to get the wealth from somewhere to spread around. In healthcare that is the young and healthy who are mandated to participate. Reminds me of Stalin’s building programs, labor shortages were never a problem.
That would be about a normal years increase then, right?
Hey, somebody’s gotta pay. And if you work for a living, it’s gonna be you.
Then, at the end of each year, the insurance company can keep at most 15-20% of the premiums from any one individual. The “young” who do not go to the doctor get most of their money back. Someone who has tens of thousands of dollars in bills only spends the same amount on premiums as the “young.” This is the kill all insurance so the public option is the only option provision.
Say, isn’t this demographics group that voted so heavily for The One? Breaks my pea-pickin’ heart to hear that they are going to have to pay more than they otherwise would have.
I work for a very large employer. We have been analyzing the mandates that begin this year. What we see is that the requirement to insure the 23-26 year olds will add costs to the insurance pool that we, the current policy holders, will have to pay. Also, the mandate to eliminate the lifetime cap on expenses will have a huge impact. We have quite a few people who have already exceeded the benefit cap. Now we will have to add them back to the coverage pool. That will add costs that we will have to pay. These benefits will not come from “the government” nor will it come from the “wealthy.” It will come from ordinary folk whose premiums will rise immediately.
Are you sure? I thought the 85% payment mandate was in total and not for each individual. Otherwise the concept of insurance makes no sense because in very few years does someone make claims over payments on house, car or medical insurance, but when they do they claim a lot.
I posted this on another thread before I knew it was a duplicate.
“Even so, the pluses could outweigh the minuses. Some 2 million people under age 26 should qualify for coverage under their parents’ health plans. “
Oh, I see! So it’s ok that it will rise 17%, it’s only your parents that have to pay it.
Good God, this world has GONE INSANE!!!
I can’t believe I’m reading half the crap I’m reading in the news. It’s like every lefty has lost their damn mind since Obama became elected.
Yes, it’s true. We were discussing this back on another thread. Discussing also how now insurance is dead if the insurance companies have to refund unused dollars for those who are healthy and get screwed on those who cost thousands.
I thought it was collective also, until I read a description of it from an insurance exec. I could have misunderstood, I suppose. Still, at a 65% collective rate, the insurance companies make about 3% profit. At 85% they will be at a loss, I suppose.
It would only seem fair that young people should not be charged more for other types of insurance, like auto. And males should not be charged more for auto or life insurance either.
Yeah. The "kids" went for the whole hopey, changey thing en masse. They think ole' Barry is cool.
Now, they will be REQUIRED to buy something they might normally not have even considered wanting to buy...under their own free will of course. Now, "big brother" is going to tell them what to do...with a 17% "premium" attached to it!
Normally, I'd be laughing my arse off at such ignorance. Only I'm not because it directly and negatively affects me and my family (& my country). Let alone the fact that Congress can't mandate any citizen purchase any good or service simply because we exist.
As a retired person, I say “C’mon train!!”
Outweighing the plus of staying tied to parents apron-strings until 26 (is that really a plus) is the fact that under traditional pricing these young people will find their new individual cost at 27 and up will be much higher.
Will they be surprised. Obamacare mmmm mmmmm mmmmm.
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