NOVEMBER 20, 2013
Obamacare's future in the hands of Millennials
Young Americans avoid enrolling in ACA health plans
WASHINGTON, DC— Reports show young people are enrolling in Obamacare exchanges at disproportionately lower rates than older Americans, raising concerns for the law's future.
The White House projected it needs 2.7 million young Americans to enroll in private exchanges by 2014, in order to offset the costs of coverage for less healthy, older Americans.
But so far — with just a matter of months — until penalties start kicking in, numbers from state exchanges indicate young people are enrolling at much smaller rates, leaving questions as to whether large numbers will ultimately choose to pay the penalty and opt out.
"Obamacare's success hinges on young Americans enrolling in health exchanges, but for many it means much higher costs and unnecessary coverage," Alyssa Farah, YAL Director of Communications said.
The National Center for Public Policy Research recently reported that about 3.7 million of those ages 18-34 will be at least $500 better off if they forgo the Obamacare health exchanges and pay the penalty. Three million young adults would save over $1,000, the same study revealed.
"It is fundamentally wrong to coerce young, healthy people into purchasing expensive coverage to subsidize the costs of care for older, likely wealthier Americans," Farah said.
"Unfortunately for President Obama, many young Americans will choose to pay the small opt-out penalty rather than pay for pricey exchanges," Farah added.
Young Americans for Liberty is the largest, most active, and fastest growing libertarian and conservative organization on America's college campuses, with a network of more than 500 chapters nationwide. Visit www.YALiberty.org