Will The Health Care Reform Law Be A Burden To The Young And Healthy? — Real Health Care Reform Healthshare

Will The Health Care Reform Law Be A Burden To The Young And Healthy?

Health Care Reform Law Based on studies and researches by various organizations, the health care reform law could hugely impact the young and healthy especially if all the mandates of the law are implemented in January 2014.


According to actuary Troy Pritchett, the losers of the healthcare reform law of President Obama is the young and healthy. How? They could see their premiums increase as high as 135 percent. This is because the law is full of uncertainties and usually uncertainties mean higher costs.


Take for example the health insurance exchanges. States are still uncertain how to run the exchanges. Under the law, individuals and those with no employer-sponsored health plans could buy health care coverage via the exchange. However, it’s a market that offers few price protections. Pritchett says that the sooner federal and state officials determine how to handle the exchange, the better for insurance companies to prepare.


More mandates would also mean higher costs for insurance companies. In order to keep up with their costs, insurance companies would increase the premiums that they charge consumers.


In addition, by 2014, insurers are prohibited to decline applications based on a person’s health status. People with pre-existing conditions can get guaranteed acceptance. However, this could mean passing their health care costs to the young and healthy. Also, insurance companies are prohibited to charge women higher premiums than men. These mandates alone can increase their expenses by 68 to 90 percent according to Pritchett.


We all need to be prepared when it comes to the changes of the health care reform law. You really need to prepare financially for the possibility of seeing your premiums jump by 135 percent. There’s still the November election that can bring about change in the way we receive health care in the future. Make sure that you vote wisely.


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