Recent polls show an interesting correlation between age and health insurance coverage. Though many other factors, such as income, also play a major role in who obtains coverage, and who chooses to go without does depend greatly on the age group of that individual. According to a newly released
Gallup Poll:
• 84% of 18 year old children have coverage
• Once these individuals reach the age of 22, the percentage drops to 66%. Currently, as these older dependants reach this age, or graduate college, they no longer qualify to be covered under their parent’s coverage (note – with the implementation of health care reform, these numbers will be expected to drop as the eligible dependant age is extended to 26)
• This number rises only slightly through the remaining years, until Medicare age is reached. At this point, 95% of American’s are covered
These statistics are startling, as more and more young adults find it next to impossible to find a job with benefits, or feel that they are too healthy to need the burden of monthly premiums. These individuals risk financial ruin for themselves, and their families. Therefore, obtaining some sort of coverage, even if it is hospitalization only coverage, remains a vital priority.
These numbers also play an important role in the passing and implementation of the health care reform bill. Opponents state that even though coverage will be extended to all Americans, the cost will rise as much as 17% for younger individuals, while dropping slightly the cost for older Americans. Proponents find that the number of currently uninsured younger (healthier) clients is the reason that premium pricing is so skewed. By increasing the number of healthy individuals in the pool, the overall “risk” for everyone will be reduced.
