The final number of young enrollees is well below the required cohort. Premiums will rise next year as a result of the adverse selection of older, and probably less healthy consumers. Why are young adults staying away? In one word, economics.C'mon kids: multi-millionaire Lebron James says paying a lot more for healthcare is cool. YOLO and such.
Obamacare is asking young adults to effectively subsidize the healthcare costs of older Americans. So far, Millennials are resisting this age-based transfer of wealth. Many are clearly opting instead to remain uninsured, or else they are buying cheaper health plans that don’t conform to Obamacare’s regulatory dictates.
Monday, March 31, 2014
The kids are getting wise
Forbes: "How Much Does Obamacare Rip Off Young Adults? We Ran The Numbers. Here Are The Results."