Obamacare Needs Two Young People for Every Three Older Sign-Ups

Initial enrollment numbers aren't promising

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Recent enrollment estimates for the Affordable Health Care exchange reveal young people have not been signing up for health insurance, raising concern over the marketplace’s financial viability.

The first set of data revealed this week showed that only 106,000 people have signed up for health insurance through the Affordable Care Act, most of whom are elderly and have medical problems, the Associated Press reports.

The exchange’s viability hinges on young people signing up to offset costs of insuring older patients with medical issues. The White House has estimated that it needs two younger people to sign up for Obamacare for every three older participants.

If the problem persists, insurance companies will be forced to increase insurance premiums and deductibles, or even leave the marketplace to avoid too much financial loss.

[AP]

40 comments
TomHopkins
TomHopkins

The "AFFORDABLE CARE ACT" is anything but affordable for the young people in this country who will have to carry most the burden for a health care system that is broken.  You can spin your opinion however you want,  come up with facts and mathematical charts and videos, get mad at each other and act like bratty preschoolers because you happen to disagree, but there is one thing on which we should all agree.  Our great country is in deep do-do. 

pjrichard
pjrichard

I laugh every time I read articles that say the young will be paying for the old. My husband and I are both 60 and in excellent health. Our current individual policies have been canceled due to the ACA and our annual health insurance costs will increase from $7637 in 2013 to $17,240 in 2014.  Needless to say, we will NOT be insured in2014.

JohnDavidDeatherage
JohnDavidDeatherage

ACA needs to overcome the phenomena of Adverse Selection.  Simply put adverse selection is the probability that  people who need (health) insurance will tend to buy and the (healthy) people who don't need (health) insurance will not buy. ACA needs young people who generally are more healthy to buy health insurance. So far, they are choosing not to buy.  If that continues, premiums for everyone else will have to rise because they are no longer being subsidized by the young and healthy.  Those rising premiums will be the death spiral that kills Obamacare.

The key to ACA/Obama care is for young people to act against their own self interest and buy insurance. 


MagicbyMarkAZ
MagicbyMarkAZ

"If the problem persists, insurance companies will be forced to increase insurance premiums and deductibles, or even leave the marketplace to avoid too much financial loss."  REALLY?  Are you listening to yourself?  Insurance companies have always increased premiums and deductibles.  That's why we NEED the ACA.  And as far as leaving the marketplace, only those that can't compete will leave.  That's the free market and that's competition.  Don't buy into the hype.  The ACA is working now.  Sign up.



Read more: Obamacare Needs Two Young People for Every Three Older Sign-Ups | TIME.com http://nation.time.com/2013/11/16/obamacare-needs-two-young-people-for-every-three-older-sign-ups/#ixzz2ktJ4ESVY

DonnyDarkoh
DonnyDarkoh

the young people have no jobs and are spending all their McDonalds earnings on student loans.  it's not like they're going to fund this anyways - the exchanges exempt kids under 30 from getting 'minimal coverage' and let them buy catastrophic insurance instead.  Let's not kid ourselves - the people between 30 and 50 are the ones funding this.  These articles are probably designed to disguise this fact.  To all those between 30 and 50, I advise them getting a bare bones catastrophic plan designed for young people, then either paying the Obamacare fine or avoiding its enforcement through eliminating their tax refund.  Protect your money from insurance moguls!!! If you want to protect your health, spend your money on vegetables and gym memberships instead.


aztecian
aztecian

the young invincibles are going to join in.  it is there time and place to make this work.

mary.waterton
mary.waterton

The younger generation will be stuck with paying off the national debt, almost 50% of that accumulated in the last 5 years. I guess the democrats figured there would be no big deal in sticking them with the bill for Obamacare too.

richard.draucker
richard.draucker

It's so amusing to see what happens when people who have never experienced math suddenly discover calculators.  ObamaCare is not financially viable, it never was, it never will be.  America needs to reduce costs of health care, not enforce bizarre financing schemes on a populace that simply can't afford to pay. 



ok2judge
ok2judge

Well  yes - the young and middle class will need to have existing policies cancelled and pay more on new policies to cover costs of older/sicker citizens. That is the ACA's intent and it was communicated (despite the head fake on "you can keep your policy"). Perhaps some people did not perform due diligence before voting. At any rate, on the single payer issue, let's remember the effects of a price ceiling on supply & demand. Consider today the MDs who are not accepting new Medica** patients. If we put price caps in place, naturally we will see a shortage of doctors over time. How large a shortage/wait times we will have to wait to see. However as in Canada, Australia, etc. it will be possible for some to pay an annual retainer for fast access to a doctor, or to buy a supplemental policy to obtain priority care.

AaronCohn
AaronCohn

Obamacare's lofty goal was to make sure every american had affordable health insurance.

What we have one and a half months into this thing is 5 million more uninsured who will have to pay twice as much for worse coverage than they had before.

War is Peace.

Freedom is Slavery.

Ignorance is Strength.

Obamacare is good.

mayhop
mayhop

@pjrichard If anyone thinks this is b.s., go check it out for yourself. It is unfortunately absolutely true. The same was true for my husband and I. Ain't no trolls here by the one who knows one.

maggiesmom
maggiesmom

@JohnDavidDeatherage John, really? You're a hard working thirty year old. It's your turn now to make your way in life and you want a chance at the  American dream just your parents had. You have college loans, mortgage payments, car loan, home and care insurance, etc. You're on a budget. Money is tight. You fall in the $40K category but still with high gas and food prices, you barely have enough left over for the savings account and "Miscellaneous" always seems to deplete it. Now the government says you must buy insurance but that's okay because you know the importance of it and you already have a policy. You have a $3,000 deductible with a $200 monthly premium, but you're never sick. But you know the insurance is necessary so you don't complain. But Wait! Stop thinking of yourself. There's people out there who need YOU TO CONTRIBUTE MORE MORE MORE. Your insurance company sends you a letter that reports starting in 2014 your deductible is $5,000 and your monthly premium will be $350.  What is wrong with this picture? Oh, wait a minute. I know the answer. It's the young people's fault. Blame the problem on them and their self interest. 

aztecian
aztecian

@DonnyDarkoh well, they're going have to be fined until they pay.  who will take care of the young invinvibles once they are old?  they need to forced to bite the bullet now.  all of it will pay off when they are older.  it is the only fair thing to do.

JohnDavidDeatherage
JohnDavidDeatherage

@aztecian People act in their own self interest.  It is Adam Smith's invisible hand that drives our economy.  Capitalism harnesses the power of economic self interest.  Liberal / progressives fail to grasp the fundamental engine of capitalism.  Capitalism has freed more people from poverty that all the liberal programs in history.

Openminded1
Openminded1

@aztecian You generation is to stupid and high to make anything work besides also being lazy. 

EricDavis
EricDavis

@EricDavis Also,  these people who are demanding to keep their plans that are horrible are essentially saying, 

Yes to my policy that covers next to nothing!
Yes to cancelling my insurance for getting sick!
Yes to my insurance company spending an amazingly high 26 cents of my insurance dollar on themselves!
Yes to not being able to get insurance because I had an illness before!
Yes to giving congress gold coverage policies for free!
Yes to six insurance company lobbyists for every member of Congress trying to kill the ACA!
Yes to the lobbyist and insurance company spending millions to kill the ACA instead of covering their sick policy holders!
Yes to my healthcare policy being written by the greedy Heritage Foundation because they really care!
Yes to insurers giving U.S. Chamber $86 million used to oppose the ACA instead of covering their sick policy holders!
Yes to my insurance company looking for every excuse and loophole not to cover a legitimate illness  

aztecian
aztecian

@mary.waterton lies and fear, there has always been a huge debt.  this is nothing new.  it is part of the recession which was created by gdubYaBush.

Openminded1
Openminded1

@richard.draucker true, this was all about Obama wanting to make history for his library, well he did but it will not be the history he was hoping  for. It will be the joke of his failed Oval office tenure.

maggiesmom
maggiesmom

@Openminded1 @aztecian You're a jerk! No you're the jerk! Well, you're the bigger jerk! You're momma's a jerk and she stinks! You're daddy's a jerk and he's ugly. Wait a minute! What were we talking about before  kindergarten recess.?

richard.draucker
richard.draucker

@SilenceDoGood3 @richard.draucker 

It would have been better if he had shown which buttons to push on a calculator to get the totals and included some comical characters or scantily clad women.  I'm sure any ObamaCare supporters will fall asleep within the first 30 seconds.  

aztecian
aztecian

@AaronCohn @aztecian @DonnyDarkoh you look like you just came back from an obstructionist rally.  did you march around in a george washington costume with tea bags as dreadlocks? 

Openminded1
Openminded1

@maggiesmom @Openminded1 @aztecian If that is your picture and it is recent, not from 1959, Give me your number I think you should come over to the dark side, you will never go back to the light.

Openminded1
Openminded1

@aztecian @Openminded1 @EmmanuelleGoldstein You dumb ass you forget I am black. Or are whites the minority to you now?