The number of young adults in America lacking basic healthcare coverage is approximately 20 million. Even though young American adults require fewer visits to the doctor compared to their older counterparts, the need for preventive treatment, check-ups and the occasional to visit the doctor for health related problems does exist. Young Americans are priced out of the market due to the ever rising premiums. The Affordable Care Act/ObamaCare sets out to tackle this situation by providing affordable coverage to the uninsured and the underinsured young American adults.
Affordable Care for Young adults
The Affordable Care Act/ObamaCare gives the option to expand Medicaid to cover individuals earning fewer than $ 15,300; most of whom are students. Around 8 million uninsured young Americans between the ages 18 and 34 are likely to benefit from this.
With the help of the Affordable Care Act/ObamaCare tax credits are created on purchasing insurance for individuals earning less than $46000. About 9 million young Americans, including students, can benefit from this by limiting the amount of premium they pay on a healthcare plan they purchase. ObamaCare allows young adults up to the age of 26 to be a part of their parent’s healthcare plan. The Affordable Care Act/ObamaCare also makes it easier for young American adults to buy an insurance plan. The features of the Affordable Care Act/ObamaCare pertaining to students are as follows:
o 26 is the number
You stay in your parent’s health care plan until you’re 26 even if you are married.
o Student Healthcare Insurance Plan (SHIP)
The health centers of some colleges offer affordable plans for students not covered by insurance carriers, so that your health expenses are covered with the help of these plans to some extent.
o Exchange Marketplace
Marketplace exchange is the place from where you can compare and/or purchase a plan. You can only enroll in plans within your state.
o Medicaid and Children’s Health Insurance Plans
In case you cannot afford an insurance plan, and provided that you meet the prerequisites set by your state, you may be entitled to Medicaid or the children’s health insurance plan. Medicaid is intended for children, pregnant women, noncitizens and people with disabilities, while the children’s health insurance plan intends to take care of individuals under the age of 19.
Apart from the features mentioned above of the Affordable Care Act/ObamaCare, young Americans under the age of 30 have a number of private insurance plans available to them. Catastrophic coverage is a popular option among young Americans, particularly students. This plan is less expensive and provides coverage for major events like the need for surgery. Preventive treatments are carried out at no cost. The deductibles are $6,350. Whether you choose to stay within your parent’s plan, use SHIP, Medicaid or private plans to meet your healthcare requirements; the truth of the matter is you have a number of options open to you and you can choose according to your need or will.
The Jordan Insurance Agency is the brainchild of Billy Jordan, who went through a great deal of frustrations when his mother was suffering from Stage 4 cancer. This Agency gradually grew with the passion of giving people access to the best possible health insurance coverage according to the budget. Blue Cross Blue Shield of North Carolina, Assurant Health, United Health One, and Coventry One are a few of the companies TJIA deals their contracts with. Feel free to call us today (704) 926-7565 or (800) 648-3870 and get your free quote from here!
