Living Young, and Wild, and Free . . . Obamacare and Young Adults. What Are my Options?

Obamacare
Obamacare, otherwise known as the Patient Protection and Affordable Care Act (ACA), was signed into law in March 2010 by President Obama. This new law makes preventive care including family planning and related services more accessible and affordable for many Americans.1 This article outlines a few different options that young adults (ages 19-26) will have once coverage begins in January 2014: Young adults can remain as dependents on their parents health insurance until age twenty-six.2 Young adults can enroll in an insurance plan on the Marketplace. Young adults can opt out of enrolling in a healthcare plan, although there is a fee associated with not having healthcare.

released by the Center for American Progress, only 3 percent of all young adults could face higher premiums in the Affordable Care Acts individual market.3 Most young adults will not see an increase in their health insurance premiums because (1) they will receive coverage from their employers, or (2) because their income will be low enough to qualify them for Medicaid (if their state participates in Medicaid) or to receive government subsidies of their insurance payment.3

Opt Out of Healthcare

The Affordable Care Act gives Americans the option to opt out of healthcare coverage, although there is a fee for not enrolling (see www.healthcare.gov for details on how this fee is calculated).4 The government needs young adults to buy individual plans on the Marketplace. If too many young adults opt out, payments for senior citizens with more costly health problems will increase, and the ACA may falter.5

Dependency to Age 26

The Affordable Care Act allows young This fee will incentivize Americans Im not in a position to afford any adults to remain on their parents (especially young adults) to enroll in insurance at all . . . For young people just health insurance plan until age 26. healthcare. Specifically, the ACA learning to take care of themselves, its This is a portion of the law that has hopes to motive young invincibles foolish we have to take care of our older already taken affect (versus becoming (young adults who believe that they 5 generation. Steven Binko effective in January 2014). A recent dont need healthcare because of study published earlier this year their good health) to enroll in a reported that as many as three million young adults healthcare plan. have gained coverage as a result2 of this policy. The study also compared this demographic with adults ages Conclusion 26-34 who are not affected by the new policy. The authors found strong evidence of increased access to It is important to weigh all of these healthcare options care [for adults ages 19-26] because of the law, with provided through the Affordable Care Act to determine significant reductions in the number of young adults which option will be cheaper for you and your family. who delayed getting care and in those who did not 2 receive needed care because of cost.
Endnotes

The Marketplace
Young adults also have the option to enroll in an individual healthcare plan on the Marketplace. This portion of the ACA has received some backlash from the young adult population. Many believe that this option will actually increase, rather than reduce, the cost of healthcare coverage for young adults. Recent studies show, however, that this neednt be a concern for most young adults. According to estimates

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"Find Health Coverage That Works for You." HealthCare.gov. Web. 22 Oct. 2013 Sommers, B. D., Buchmueller, T., Decker, S. L., Carey, C., & Kronick, R. (2013). The affordable care act has led to significant gains in health insurance and access to care for young adults. Health Affairs, 32(1), 165174. Retrieved from http://search.proquest.com/docview/1285127928?accountid=4488 Infographic debunks misleading claim that the affordable care act harms young adults. (2013, Jun 20). Targeted News Service. Retrieved from http://search.proquest.com/docview/1370066250?accountid=4488 "What If Someone Doesn't Have Health Coverage in 2014?" HealthCare.gov. Web. 22 Oct. 2013. Armour, Stephanie. 2013. "The Battle for the Young Invincibles." Bloomberg Businessweek no. 4348: 63-64. Business Source Premier, EBSCOhost (accessed October 28, 2013).

Living Young, and Wild, and Free . . . Obamacare and Young Adults. What Are my Options?