Insurance Blog

Finance Blogs » Insurance Blog » Young adults warm up to Obamacare

Young adults warm up to Obamacare

By Crissinda Ponder ·
Thursday, February 13, 2014
Posted: 9 am ET

The Americans most coveted by proponents of the Affordable Care Act no longer seem to be dragging their feet on health insurance.

In the Obamacare health exchanges, enrollment by young adults -- those between the ages of 18 and 34 -- grew by 65 percent during January, a much faster pace than for all other age groups combined, the Department of Health and Human Services announced Wednesday.

Good vital sign for the insurance pool

Insurers want good numbers of younger and presumably healthier consumers in the insurance pool to help keep it balanced.

"We are thrilled to see young adult enrollment rates continue to increase and expect this trend will continue as more learn that they can get help paying for their insurance and work with in-person enrollment assisters," Aaron Smith, co-founder and executive director of advocacy group Young Invincibles, said in a statement.

Most young adults choosing a marketplace plan picked a mid-priced silver plan or higher.

A big month all around

The latest Obamacare numbers also show that overall enrollment increased by 53 percent during January, the fourth month of the open enrollment period. Other findings include:

  • Nearly a third of those who selected plans between Oct. 1 and Feb. 1 were age 34 and younger.
  • In January alone, 27 percent who signed up for coverage were between ages 18 and 34.
  • 82 percent of those who selected a plan during that period will receive tax credits to lower the cost of their premium.

"These encouraging trends show that more Americans are enrolling every day, and finding quality, affordable coverage in the Marketplace," Department of Health and Human Services Secretary Kathleen Sebelius said in a statement.

A total of about 3.3 million Americans have enrolled in a health plan through the Obamacare exchanges since open enrollment began Oct. 1. Another 3.2 million were deemed eligible for either Medicaid or the Children's Health Insurance Program, the Obama administration said.

What are your thoughts on the latest figures? Will Obamacare reach 6 million enrollees by March 31, when the enrollment period ends?

Follow me on Twitter: @CrissiPonder.

Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
George Hannes
February 14, 2014 at 2:30 pm

To Bill Murphy Your points are well taken but the following may help clarify things. First of all I did not retire at 65. I want the younger generation to have the same benefits I had in choosing the DR's and hospitals. I don't want to hear you have hit the Doughnut hole so the cost of new prescriptions is beyond belief. Most of all at present I don't want the Government contacting me and telling me how to take care of my wife who has Alzheimer's. That is for her DR. and I. Any benefit we receive is being paid for taxes by those still paying in and who I feel will face a far worse crisis in the future. I will leave the countries debt out of this which at some point future generations must face. Mt greatest benefits were from the G.I. Bill that paid for my College education after WWII . We now have too much Government NOT helping in my view.

February 14, 2014 at 1:30 pm

Another line by the one sided media to get people to think that this is a good idea. Do not buy into this!!!

Richard Shore
February 14, 2014 at 11:51 am

Here we go again! More lies as Obamacare begins its death spiral. "Warming up." What a joke. Most of the young that have signed up have not paid the fee. Those who have are afraid of being investigated by the "not a smidgen of fraud" IRS folks. How can they pay when the joke of a system does not allow or accept payment? By mail? The United States will be so much better off financially when this albatross finally dies.

Freddy K
February 14, 2014 at 11:43 am

Hey Crissi I just read your article. Did they teach you to embellish, spin and lie in journalism school or did you figure that out on your own?

February 14, 2014 at 11:38 am

Fressndon Newport

You are a brainwashed fool or a socialist commie

February 14, 2014 at 11:29 am

Just because more people are signing up for healthcare in no way implies acceptance or approval of the "Affordable" Care Act. It's the law. These young people, just like the rest of us, are now legally required to have health insurance or face financial penalties. The title "Young adults warm up to Obamacare" is intentionally misleading.

Fessendon Newport
February 14, 2014 at 11:09 am

It should come as no surprise that among the 12 states meeting or exceeding 100% of 4 month cumulative enrollment targets, only 2 are Red States. The ultra liberal blue states CT, RI and NY reached 238%, 212%, and 156% of 4 month targets respectively. These are models of success for the country .. demonstrating that commitment pays off. Meanwhile, most red states are mired in the very failure their obstruction and nihilism sought to produce, and, thus, they are exactly where they belong.

Still, millions of uninsured in these failed states .. which are trashing the ACA .. are going to wake up to the fact they are being disadvantaged; not to mention that the medical care/insurance industries in those states will want the billions in revenue they are missing out on. The GOP may be committed, as always, to failure, but it can only remain ignorant and spiteful for so long ...and the clock is ticking.

February 14, 2014 at 10:43 am

No kidding: well keep this in mind. If you tell the truth the first time you don't have to remember what you said!!!!!!!

February 14, 2014 at 10:26 am

Sounds Like Somebody Is Lying Again.

February 14, 2014 at 10:00 am

Really?????? Why then do I get negative responses from these youth when the subject comes up. Certainly, there must be an affirmative in the 130 or so kids I have overheard or asked about it, but yet not one........