The AP ran an article yesterday discussing something that many have been warning about for the past year: The Patient Protection and Affordable Care Act forces healthy 20- and 30-somethings to purchase approved health insurance policies to subsidize care for older generations.
Under the health care overhaul, young adults who buy their own insurance will carry a heavier burden of the medical costs of older Americans—a shift expected to raise insurance premiums for young people when the plan takes full effect.
Beginning in 2014, most Americans will be required to buy insurance or pay a tax penalty. That's when premiums for young adults seeking coverage on the individual market would likely climb by 17 percent on average, or roughly $42 a month, according to an analysis of the plan conducted for The Associated Press. The analysis did not factor in tax credits to help offset the increase.
The higher costs will pinch many people in their 20s and early 30s who are struggling to start or advance their careers with the highest unemployment rate in 26 years.
...and the hits just keep on coming.
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