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Thursday, August 22, 2013

Only 27 Percent of Young Adults Aware of Insurance Marketplaces

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While more young adults are taking advantage of an Affordable Care Act provision allowing them to remain on their parents' health insurance plans until they are 26, there is a long way to go before they know about benefits they may be able to take advantage of through the online insurance marketplaces, a report released Aug. 21 by the Commonwealth Fund found.

With the marketplaces opening for enrollment Oct. 1, the Commonwealth Fund's survey of 1,885 people aged 19 to 29 conducted in February and March showed only 27 percent were aware of the marketplaces. Moreover, low income young adults most likely to benefit from subsidies available through the marketplaces are the least likely to be aware of them, said the report, "Covering Young Adults Under the Affordable Care Act: The Importance of Outreach and Medicaid Expansion."

Affordability of plans and outreach will be key to the success of getting young people to enroll, which is critical to keeping premiums affordable for everyone, the report said. In addition, the fact that only about half of states have so far decided to expand their Medicaid programs in accordance with ACA creates a big risk that millions of young people at the lowest income levels will still lack coverage, it said. The Commonwealth Fund supports ACA.

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