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Insuring Young Population Is Playing Important Role In Overhauling Plans

Insuring Young Population Is Playing Important Role In Overhauling Plans

The young population is often called invincible by the insurance industry due to their nature for avoiding insuring themselves. According to data known, the number of American people under the age of 30 having no insurance is almost 13.7 millions. This young group of people think that they are physically enough fit not to be sick and hence they think insuring themselves is nothing but some wastage of money. Contrary to the idea of this young population, the lawmakers as well as the industry experts believe that insuring young population is playing important role in overhauling plans as this will bring the cost to be provided for sick or older population spreading in broad population.

The only developed country having no comprehensive health care plan for all of its citizen is the United States. As insuring young population is playing important role in overhauling plans, President Barack Obama made the overhauling health plans as his top priority. But at the same time the experts in health industry as well as various groups advocating the youth say, to persuade this population who is statistically very healthy, affordability should be focused more than the invincibility.

There are several reasons for which young group aged between 19 to 29 comprises the highest rate of uninsured population. According to Kaiser Family Foundation, in comparison to the older groups, this young population has more tendency to opt for entry-level jobs which are at the same time of low-wage as well as offering no health insurance to them.

Though insuring young population is playing important role in overhauling plans, there are other reasons for not going for insurance for young people. The burden of other financial payments as well as their healthy well-being place the priority of insuring themselves on the back burner. So, affordability is also deemed as key factor.

There are many comprehensive reasons for the fact that insuring young population is playing important role in overhauling plans. Young people being healthy do not usually need costly medical care and the premium collected from them, if insured, can be used to subsidize the older people or people who are less healthy in comparison to them, thus the average cost can be brought down. This idea is the most contributing factor for the health care bills being circulated seeking for most Americans getting insured, failing to which being charged with a penalty. It is also being deemed as a tax levied on young people such that the average cost of healthcare can be lowered.

While this idea is being welcomed by some young people, there are also some different opinions owing to many factors. While some young thinks this is a good system because in the long term when they will get older, they will be served by the system, others see this as paying others' healthcare.

While young Americans are going to be affected by many of these provisions, some are also made taking them into consideration. By latter, young adults will be allowed to piggyback on the insurance of their parents. Age up to which this young population can take benefit of the facility is 26 for the bill proposed by the Senate or 27 passed by the House. According to a study conducted by Commonwealth Fund suggests that thus raising the age of dependent to access the coverage will result in inclusion of more than 2 millions young adults into insured group at a very minimum increase in the premiums paid by their parents.

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