Any Young Singles with Obamacare?

[Jen and Ashwin]

But they are expensive for young people now because they are subsidizing older people and men are subsidizing women. Before ACA my insurance cost about 3x what my younger male colleagues' policies cost. Now it's only 50% more. Mine didn't change much but there's increased significantly.

I am sure back in 2008, the policies that I looked at were more expensive because I am female and was at the point of prime childbearing age. But from what people are saying they pay now, the quote I got in 2008 were 2-3x more than what others have said exchange plans cost. And just because the exchanges disappear doesn't mean that prices will go down or even that they won't go up. This will be especially true if they continue to restrict insurance companies from denying insurance to those with pre-existing conditions. And, when you buy an individual policy through any insurance company, as a young person, you are always subsidizing older people. Even without the ACA, that will continue to be true.

 

[Jen and Ashwin]

This is going to be pretty confrontational but she is 26 if she doesn't understand she needs to fill out the paperwork and choose a plan by the 31st and pay her first premium then she should deal with the consequences of not having insurance after her birthday. I understand being concerned for her but I'm only 28 and am legitimately shocked at how many of my peers can't meet simple deadlines or complete adult tasks because their parents are still doing it for them.

I agree with this. And I would even be alright with a parent that helps somewhat, doing research, etc. But actually signing your 25 year old daughter up for insurance without a word to her about it seems extreme to me. As I said before, I finished law school at 25 and looked into insurance policies on my own. I decided to opt out due to cost, but no one did the work for me and the consequences of the decision were all my own. Because at 25, I was an adult.

 

[javeyloveschelsi]

This is going to be pretty confrontational but she is 26 if she doesn't understand she needs to fill out the paperwork and choose a plan by the 31st and pay her first premium then she should deal with the consequences of not having insurance after her birthday. I understand being concerned for her but I'm only 28 and am legitimately shocked at how many of my peers can't meet simple deadlines or complete adult tasks because their parents are still doing it for them.

I'm going to have to agree with this...maybe I'm a little bit harsher and I won't bore you with my story, just that I would have been appalled at 26 (only a few years ago) if my folks tried to do that, but that's just me (not like they could have, we have had our own policies since we got married at 19). But, I'm also not your typical 30 year old--happily married for 11 years and expecting #4 anytime and DH and I have been completely independent since 18...I'll stop right there before I get on my soapbox

 

[afan]

Prior to the ACA I had an individual plan I purchased through aetna because it was the the best coverage for the price I could afford. I was early 30's and the plan was 150 or less a month and it covered preventative and prescription but was there if anything bad happened. When the aca passed they raised the premium less than 50 a month but said the following year the plan would have to be changed and rates would go up more. The following year if I had wanted to keep the plan I think it was over 280. None of it was subsidized since it was all still going off the policy I got before aca. I see the benefits of more people being covered, but not how it's made it more affordable over all for those that don't qualify for a subsidy and who knows what will happen now.

I also agree, that she should be able to figure her insurance out on her own. I lost my insurance when I graduated from college in 2001. I found a policy that was basically good for emergencies and a dental plan for I think 90 bucks a month at the time. My mom helped with any questions but it was all my decision because I knew I needed it and so I found something that worked.

 

[Ydnameht]

In NY if you make less than $23k as an individual you qualify for the Essential Plan on the exchange. Covers the same thing as other exchange plans, no deductible, and the premium is at most $20 a month (sometimes free) and this year you can even add on vision and dental (for an additional fee).

 

[BellePrincessBelle]

OP you really need to let your daughter adult or deal with the consequences. At almost 26 I was married with 3 kids, I can't imagine my mommy buying my health insurance.

 

[lovewdwfun]

I agree with the others here. 26 is not a child. You are really not doing her any favors here, just enabling her not to be a responsible adult. I was married with two kids at 26. I would've been horrified if my mom signed me up for health care.

 

[TwoMisfits]

I agree with all the PPs. Making mistakes, even catastrophic ones, in your 20s when you're young, single, and independent is when it's best to make them. Making mistakes in your 40s/50s when you are married with kids depending on you and with no one left to bail you out will be truly catastrophic. Let her learn from the mistakes now and don't offer any help when they happen - let her fix them.

My sister had to learn how to not run away from bad life and financial decisions. It took a few years, a few jobs, a few repos and evil credit letters/calls...but she finally dug herself out in her late 20s and learned to be responsible (and learned what she was bad at with money - now she does cash and debit, not credit). Now, she has a spouse and kids and perfect finances b/c she had to learn through experience how to handle debts/loans/finances. It was tough for my mom to watch my sister make all those bad decisions (and my mom knew about all of them b/c she and my sis had the same name, so my mom got all the same calls and kept rerouting them to the right person), but it was the best thing she ever did, and both parties agree.

 

[Dancind]

Thanks guys. I do agree. It's a balance between trying to let go and let my ASD adult child learn from mistakes (why does this not work?), and being able to sleep at night. I went with sleeping. She's not adulting very well and if it's any consolation I stay out of it at least 90% of the time. ok, maybe 80%. And she's been dealing with plenty of failure, no worries. I panicked a bit when I read the window to sign up for ACA ends on Jan. 31. Going for a higher percentage, but at least she has health insurance.

 

[PatMcDuck]

My daughter paid only about $140 a month. She was a FT student, and only made about $3500 a year. She was only 22 but was tossed off her Dad's insurance because he is retired (loophole to the stay on to age 26 rule). She actually qualified for free Medicare, but we opted to get her onto a regular type plan. (My disabled son is on Medicare and many specialists do not take it).

It was BC/BS Silver. No deductible or coinsurance. I think it was $10 or maybe $20 copay. She was on it for 1 1/2 years. Then graduated, works FT, has insurance from her job. She had been ill as a teenager, and we did not feel she was safe going even a day uninsured. (but has been fine thank God).

PS me and husband pay $970/month for insurance thru his union that he is retired from......

 

[lost*in*cyberspace]

Or it could be a lot easier to get health insurance by then, and a lot cheaper

What a dreamer you are! There is NO plan for a replacement for the Affordable Care Act; do you really think a new plan can be formulated and implemented in 2 1/2 months?

 

[wilkeliza]

Thanks guys. I do agree. It's a balance between trying to let go and let my ASD adult child learn from mistakes (why does this not work?), and being able to sleep at night. I went with sleeping. She's not adulting very well and if it's any consolation I stay out of it at least 90% of the time. ok, maybe 80%. And she's been dealing with plenty of failure, no worries. I panicked a bit when I read the window to sign up for ACA ends on Jan. 31. Going for a higher percentage, but at least she has health insurance.

Thanks for the update. I have to admit I am shocked that an insurance company let you sign her up. Usually insurance on an adult not through a parents plan would require signatures from the adult since she is legally obligated to pay even if you are. Also keep in mind the tax implications. That is a very trackable "gift" and might need to be counted as income so make sure she brings that up next tax season.

 

[adisneyaunt]

Thanks guys. I do agree. It's a balance between trying to let go and let my ASD adult child learn from mistakes (why does this not work?), and being able to sleep at night. I went with sleeping. She's not adulting very well and if it's any consolation I stay out of it at least 90% of the time. ok, maybe 80%. And she's been dealing with plenty of failure, no worries. I panicked a bit when I read the window to sign up for ACA ends on Jan. 31. Going for a higher percentage, but at least she has health insurance.

.OP
You know the "whole situation" Best and it's often easy to get judged by well meaning but oftentimes
Illadvised others. Though I too appreciate most of the comments that were posted.

Only You walk in the shoes of a parent ...to Your offspring! Hope the money part of your question was answered enough to aid you.

Good luck to both of you!

 

[wendow]

.OP
You know the "whole situation" Best and it's often easy to get judged by well meaning but oftentimes
Illadvised others. Though I too appreciate most of the comments that were posted.

Only You walk in the shoes of a parent ...to Your offspring! Hope the money part of your question was answered enough to aid you.

Good luck to both of you!

I agree with you. While I appreciate (and agree with) many of the comments, none have walked in the OP's shoes. While I was married with children at 26yo and would not have dreamed of my 'mommy' buying my health insurance, I realize that everyone's circumstances are different. I have an ASD ds...who knows what he will be like at 26yo!?! I also have a 16yo who has a chronic illness and has been sick for going on 2 years. She has missed out on so much of 'life' and I will have to hold her hand longer than many adult children might need. None of us have the right to judge the OP or her dd or what their situation is. She sounds like a mom just trying to do her best. Aren't we all?

As far as the ACA and health insurance...I have no idea really what is coming...ACA has been absolutely terrible for my family. So I hope for something better.

 

[teller80]

Thank you for this thread, my DD turns 26 this year and I wondered about insurance. She's in school and has no income, and when she said she was able to get Medicaid I was skeptical. Is it because she's a full time student? What if she wasn't, and she just chose not to work, would she still qualify?

 

[Jen and Ashwin]

Thank you for this thread, my DD turns 26 this year and I wondered about insurance. She's in school and has no income, and when she said she was able to get Medicaid I was skeptical. Is it because she's a full time student? What if she wasn't, and she just chose not to work, would she still qualify?

It is based on income, not on work status or student status. If she is a FT student, she probably doesn't work or only works a part time job so her income is likely to be very low. This is why she qualifies for Medicaid rather than an exchange plan. The income thresholds vary by state though. Some states have waivers from CMS that allow a greater number of people (a higher percentage above the poverty level) to qualify for Medicaid. You can go to healthcare.gov and input her information to get an idea her state's policies without signing her up for anything if you want to know more. If her state runs their own exchange, it will redirect you. If they don't then it will stay on the national page.

 

[Marionnette]

I am sure back in 2008, the policies that I looked at were more expensive because I am female and was at the point of prime childbearing age. But from what people are saying they pay now, the quote I got in 2008 were 2-3x more than what others have said exchange plans cost. And just because the exchanges disappear doesn't mean that prices will go down or even that they won't go up. This will be especially true if they continue to restrict insurance companies from denying insurance to those with pre-existing conditions. And, when you buy an individual policy through any insurance company, as a young person, you are always subsidizing older people. Even without the ACA, that will continue to be true.

And on the flip side, I have to carry a policy that covers birth control and maternity care when I'm well past the age of child bearing. I also pay based on my age (as does everyone who purchases individual plans), so much of the cost for young people is not to subsidize "older" people (those too young for Medicare but too old to need the aforementioned coverage). The younger individuals are paying for those with pre-existing conditions who were previously unable to acquire affordable insurance on their own, regardless of their age.

 

[Jen and Ashwin]

And on the flip side, I have to carry a policy that covers birth control and maternity care when I'm well past the age of child bearing. I also pay based on my age (as does everyone who purchases individual plans), so much of the cost for young people is not to subsidize "older" people (those too young for Medicare but too old to need the aforementioned coverage). The younger individuals are paying for those with pre-existing conditions who were previously unable to acquire affordable insurance on their own, regardless of their age.

I mean, my plan includes coverage for prescription viagra and treatment for testicular cancer. Your point? Policies aren't written specific to a single age or gender. They are broad and cover a wide range of services that people need. And young people definitely do subsidize older people because the cost of treatment for older people on average far exceeds their premiums on average. And it is also true that young people are subsiding those with pre-existing conditions. But taxpayers have been doing the same thing, just in a more roundabout way, all along.

 

[Marionnette]

I mean, my plan includes coverage for prescription viagra and treatment for testicular cancer. Your point? Policies aren't written specific to a single age or gender. They are broad and cover a wide range of services that people need. And young people definitely do subsidize older people because the cost of treatment for older people on average far exceeds their premiums on average. And it is also true that young people are subsiding those with pre-existing conditions. But taxpayers have been doing the same thing, just in a more roundabout way, all along.

My point is that policies are still priced according to age. This is no different than prior to the ACA. However, the rates for everyone went up - not so that the young can subsidize the older people (who pay a higher premium for the exact same plan!) but to subsidize the chronically ill who either paid a huge price for coverage due to their condition or they could not obtain insurance at all. Your PP implied that due to the ACA, young people's insurance premium rose so that they could subsidize the cost of insuring older health consumers and that is not the case. EVERYONE'S premiums rose in order to cover the cost of insuring the uninsurable. In reality, what the ACA did was expand the insurance pool so that those who have a lesser need are paying for those who have a greater need.

 

[Jen and Ashwin]

My point is that policies are still priced according to age. This is no different than prior to the ACA. However, the rates for everyone went up - not so that the young can subsidize the older people (who pay a higher premium for the exact same plan!) but to subsidize the chronically ill who either paid a huge price for coverage due to their condition or they could not obtain insurance at all. Your PP implied that due to the ACA, young people's insurance premium rose so that they could subsidize the cost of insuring older health consumers and that is not the case. EVERYONE'S premiums rose in order to cover the cost of insuring the uninsurable. In reality, what the ACA did was expand the insurance pool so that those who have a lesser need are paying for those who have a greater need.

I think you are confusing my original post. I was talking about insurance quotes that I received pre-ACA.