Millions Of Young Adults Forgo Health Insurance
NEW YORK -- In 2003, more than 13 million young adults lived without health insurance -- a decision that could lead to serious consequences later in life.
NBC News reported the combination of expensive health insurance and low entry-level wages force many people to go without insurance. Further, most young people are healthy and don't see the need for health insurance.
"Even though this is the lowest-cost coverage that they're going to face in their careers, it's still high relative to their incomes," said William Custer, a professor of risk management and insurance at Georgia State University.
Custer added, "If they don't feel they're going to need health care, they don't feel they're going to need health insurance."
But that could mean serious health and financial problems in the future.
"I'm afraid our society is playing Russian roulette when young adults go without health insurance," said Joel Miller, senior vice president for operations at the National Coalition on Healthcare. "They deny needed care ... and it increases out-of-pocket expenses for them and their families."
Experts said families should search the Internet for health insurance providers that offer plans specifically designed for young adults.
"Some plans are coming around to the fact that this is the fastest- and largest-growing population of the uninsured population -- they're trying to market some different plans," Miller said.
At the very least, experts advise healthy young adults to carry catastrophic insurance. The plan may require a high deductible with limited or no routine medical coverage, but it will cover serious accidents or illnesses.
"Having a catastrophic plan, even with a large deductible, may mean this individual will have access to health care that can save their life," Custer said.
As with any large purchase, families need to do their research and find the policy that best fits the lifestyle for the young adult in their life.
NBC News reported the combination of expensive health insurance and low entry-level wages force many people to go without insurance. Further, most young people are healthy and don't see the need for health insurance.
"Even though this is the lowest-cost coverage that they're going to face in their careers, it's still high relative to their incomes," said William Custer, a professor of risk management and insurance at Georgia State University.
Custer added, "If they don't feel they're going to need health care, they don't feel they're going to need health insurance."
But that could mean serious health and financial problems in the future.
"I'm afraid our society is playing Russian roulette when young adults go without health insurance," said Joel Miller, senior vice president for operations at the National Coalition on Healthcare. "They deny needed care ... and it increases out-of-pocket expenses for them and their families."
Experts said families should search the Internet for health insurance providers that offer plans specifically designed for young adults.
"Some plans are coming around to the fact that this is the fastest- and largest-growing population of the uninsured population -- they're trying to market some different plans," Miller said.
At the very least, experts advise healthy young adults to carry catastrophic insurance. The plan may require a high deductible with limited or no routine medical coverage, but it will cover serious accidents or illnesses.
"Having a catastrophic plan, even with a large deductible, may mean this individual will have access to health care that can save their life," Custer said.
As with any large purchase, families need to do their research and find the policy that best fits the lifestyle for the young adult in their life.
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posted by RonL @ 11:05 AM
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