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News: Healthcare reform could extend coverage to 13.7 million more young adults

Case Management Weekly, May 26, 2010

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Young adults between the ages of 19 and 29 have accounted for 30% of the 46 million uninsured individuals under age 65 in the United States. However, a new study from The Commonwealth Fund estimates that percentage will drop as healthcare reform extends coverage to 13.7 million young adults.

The study also found that:

• More than half (52%) of uninsured young adults are in families with incomes that will make them newly eligible for Medicaid under the new law.
• Approximately 29% are in families whose incomes will qualify them for health insurance premium subsidies. This means that they will need to spend no more than 3% to 8% of their income on health insurance premiums.
• Also, 12% of uninsured young adults are in families whose incomes will qualify them for health insurance premium subsidies that will limit their premiums to no more than 9.5% of their income.

The new law that extends parental coverage to young adults under the age of 26 will take effect on the first day of any plan year beginning after September 23, 2010.

However, 65 health insurers—including WellPoint, Aetna, UnitedHealth Group, Kaiser Permanente, and Blue Cross and Blue Shield—have volunteered to comply with the requirement now to avoid gaps in coverage.

Source: HealthLeaders Media

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