health insurance

Majority of New Health Insurance Plans are Older Individuals

There were more than 1 million people that signed up for the new plans and the majority of new health insurance plans are older individuals. The records showed that the ages are older than 45. That is more than half of the total people (2.2 million) that have signed up for the plans over the last three months they have been available.

Majority of New Health Insurance Plans are Older Individuals

Despite the large percentage of older Americans buying insurance, about 26% of those who enrolled are younger than 35, HHS officials said.

Nancy Delew, acting HHS deputy secretary for planning and evaluation, said the percentage of young people is similar to that seen in the early months of Massachusetts’ enrollment in its health exchange under former Gov. Mitt Romney, the 2012 Republican nominee for president. The Massachusetts law, passed in 2006, was the model for much of the federal law.

Federal and state officials said they are continuing their efforts to advertise the need to buy health insurance to younger Americans, who are considered essential to the financial health of the health insurance market because they pay premiums but often do not use many health care services.

In essence, they help subsidize the health care costs of older people.

Delew said HHS expected older Americans would sign up for health insurance earlier, because they needed it, while younger people will wait until the deadlines.(read more here)

The percentage goal of young individuals of an age younger than 35  for the new health plans are around 37 %to 40% . Even though the majority of new health insurance plans are older individuals, the marketplace sign ups have been increasing steadily since December 1st after they fixed the troubled website. Tremendous gains have been made since then. Even though Washington seems to be making a circus out of getting this program to work, they final result looks attainable. It won’t be until a month after the March 31st deadline that the final numbers of young vs. old will be available to review.

 

 

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