This is one area where insurers are highly motivated as it will allow for a mix of younger patients and to collect premiums for their care. It has been all over the news for the last couple of years on how to target college students as their “risk” of expenses is lower, just simply due to age. The group as a whole has spoken out on many occasions that since they are younger, they have not seen a need to buy insurance as they too know their risk is lower for needing care. This part of the equation doesn’t need a rocket scientist to figure that out.
On the other side of the coin there have been numerous articles written about us at the other end of the scale, and let’s face it, the older we get, the chances of us needing more care increases, and again not rocket science here, thus carriers are highly motivated to put younger members on the roles.
Does this mean “Beer Pong” and the likes due for some analytics and algorithmic studies in time too (grin), as they will want “healthy” young adults. BD
Thousands of college students scheduled to lose their parents' health coverage when they graduate this spring got a reprieve Monday from several major insurance companies.
UnitedHealthcare, Humana, Kaiser Permanente and WellPoint said they will put into effect some provisions of the new health care law ahead of schedule to let adult children stay on parents' plans until age 26.
The law's provisions relating to young adults won't take effect until Sept. 23, but the companies said they are changing rules now to prevent young adults from falling into a coverage gap. Many plans have required adult children stay in school to keep dependent coverage, and age cutoffs vary by state.
UnitedHealthcare and Humana will immediately allow young adults to remain on parents' plans until age 26. At WellPoint, which operates 14 Blue Cross and Blue Shield plans nationally, the change takes effect June 1.
Kaiser plans to extend coverage before September to consumers who have individual policies and is in discussions with employer groups about their policies.
Details are still being worked out, "but our intent is to avoid an interruption in coverage for them," spokesman Chris Stenrud said.
Insurers act on part of health law early - USATODAY.com
Given that insurers are quickly facing the realities of insuring those with preconditions, their attempts to recruit younger adults simply reflect the need to widen their pool of policy holders as quickly as possible. The premium increases that the insurers have been requesting were, in part, due to people dropping coverage in poor financial times leaving those who needed coverage to pay the larger premiums.ReplyDelete
Still unsure about the way that the expansion of coverage for young adults will affect you and your family? Read some questions and answers at http://www.younginvincibles.org/new_reform.htmlReplyDelete
Is this new law going to make an important difference for you? The Young Invincibles is a group working to represent young adults on health reform and other issues that affect us. Share your story and read others at http://www.younginvincibles.org/stories.html