Health Insurance Articles
Young Adults Question Health Insurance Mandate
2009-11-25
The year 2009 is a historical year for several reasons. Not only do we have our first Afro-American president, we are closer than we have ever been as a nation to passing universal healthcare for every citizen of the country. Health reform is of particular concern for young adults who have many questions about the bill.
H.R. 3962 recently passed by the House of Representatives and is currently under discussion in the Senate. H.R. 3962 will insure that all Americans have access to quality health insurance through requirement that all Americans purchase health insurance. President Obama and the Democratic Congress believe that the best solution for the blooming cost of healthcare is to spread the cost across all Americans, therefore making health insurance more affordable everyone. The health insurance reform plan would also prohibit insurance companies from raising prices on those with pre-existing conditions.
Young adults are especially concerned about health reform because they are already in debt up to their necks with mortgages, car loans and college loan payments. Health insurance payments would be an unwelcome burden to those least likely to get the most use of the plan in the short term. However, in the long term, young adults will be the greatest benefactors from H.R. 3962 because of the increase in access to quality healthcare throughout their entire life, leading to longer and healthier lives.
Of particular interest to young adults is the "Public Option" in health insurance reform. The public option would create a government-run nonprofit insurance plan that would compete directly against for-profit insurance companies. The public option aspect of H.R. 3962 is worrisome to for-profit insurance companies who claim it creates an atmosphere forcing them to lower their prices to compete against a plan designed not to be profitable. However, such a plan would certainly guarantee lower premiums for young adults.
The public option in the health insurance mandate would put pressure on the for-profit insurance industry. Studies have already shown that approximately 50 percent of the people currently on private medical insurance would switch to the public healthcare plan if they could reduce the price of their premiums by a significant amount. Young adults should be aware that in the end this might lead to less competition and innovation in the health insurance field.
Young adults have many questions about the new health insurance mandate. Many of those questions are coming up because of lies promoted by individuals and special interest groups who would profit in the long term if health reform did not occur. It is OK to have questions about healthcare reform, but make sure you are getting your answers from reputable sources.
